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Potential seen in ‘grand bargain’

White House weighs broad deal to avoid deep cuts, officials say

Posted: January 6, 2013 at 5:45 a.m.

The White House is looking at a return to the “grand bargain” it tried to reach late last year with House Speaker John Boehner as perhaps the best hope of defusing a fresh threat to the U.S. economy in just two months, according to people familiar with the discussions.

Obama, GOP Outline Debt Limit Debate

President Barack Obama said he "will not compromise" over his insistence that Congress lift the federal debt ceiling. The nation's credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling, in 2011. (By The Associated Press)
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