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Standard & Poor's warning that it could downgrade the AAA rating on U.S. debt in the next two years jolts financial markets. The warning comes even as a new sense of realism emerges in the stalemate between President Obama and congressional Republicans over fiscal policy.

By Don Lee, Tom Hamburger, ...

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Obama to call for 'balanced approach' to spending cuts In a speech today, President Obama will set out his plans for reducing the debt and deficits while maintaining programs he says are needed. Meanwhile, the Republican-held House is set to vote on the last-minute 2011 budget deal and its own 2012...

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In a speech today, President Obama will set out his plans for reducing the debt and deficits while maintaining programs he says are needed. Meanwhile, the Republican-held House is set to vote on the last-minute 2011 budget deal and its own 2012 proposal, with its overhaul of Medicare and Medicaid.

B...

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Tripoli, Libya (CNN) -- As rebel and pro-government forces in Libya maneuvered on the battlefield Wednesday, Libyan leader Moammar Gadhafi urged U.S. President Barack Obama to end the NATO bombing of his war-torn country. Gadhafi made the appeal in a letter to the American presid...

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