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US debt deadline hopes rise

By Richard Cowan and Rachelle Younglai | China Daily | Updated: 2011-08-01 08:08

Leading Republican expresses optimism as talks continue

WASHINGTON - Hopes emerged that lawmakers were close to a last-minute deal on Sunday that could raise the US debt ceiling by $2.4 trillion and assure financial markets that default can be avoided.

Prospects that a significant package was within grasp brightened after Republican and Democratic leaders reopened stalled talks with the White House, and Senate Minority Leader Mitch McConnell said he was confident and optimistic.

US debt deadline hopes rise

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