31 July, 2011

CNN Breaking News

Republican congressional leaders indicated Saturday afternoon they are close to reaching a deal with President Barack Obama to raise the nation's debt limit and avoid what would be an unprecedented national default.

Senate Minority Leader Mitch McConnell, R-Kentucky, said he had talked to Obama and Vice President Joe Biden this afternoon and was "confident and optimistic" that there will be an "agreement within the very near future."

A national default "is not going to happen," McConnell promised.

House Speaker John Boehner, R-Ohio, also expressed optimism that an agreement is near.

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