Latest developments in debt ceiling standoff (AP)

AP - Congress has until Aug. 2 to raise the federal borrowing limit or the government will run out of money and possibly default on its debt. House Republicans say they won't raise the debt limit without equal spending cuts. President Barack Obama and Democrats insist that higher revenues must be included.

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http://news.yahoo.com/s/ap/20110718/ap_on_go_co/us_debt_showdown_daily_summary

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