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August 3, 2011 -- 5:30 p.m. EDT
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1. Plan Leaves Out Hard Issues
After weeks of partisan wrangling, Obama and congressional leaders reached a deal to raise the debt ceiling while cutting spending by about $2.4 trillion, avoiding default but setting the stage for stormy debates over how Washington taxes and spends.
2. Nintendo: Apple's Latest Prey
Sales of Nintendo's most important new gaming device have plunged since its release, prompting the videogame pioneer to slash its profit forecast and scramble to deeply discount the gadget to revive sales.
3. Debt Debate Turns to Senate
The Senate rejected a House bill to raise the U.S. borrowing limit and prepared to vote on its own plan, setting the stage for last-ditch negotiations this weekend.
4. House Postpones Vote on Boehner Debt Plan
The House canceled a Thursday night vote on Boehner's plan to raise the federal borrowing limit after he failed to stem a revolt by conservative GOP members. The delay leaves the credit status of the U.S. in jeopardy.
5. Uneasy House Passes Debt Deal
The House passed a $2.4 trillion debt-ceiling increase Monday night with the Senate planning to follow on Tuesday, after one of the most ferocious fights ever over government spending. |
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