U.S. nears debt default as House deal falls through

The U.S. is moving closer to a debt default after House Speaker John Boehner, R-Ohio, could not come up with enough votes to pass a deal to raise the debt limit and reopen the government. Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., are putting finishing touches on a deal to fund the government through Jan. 15 and raise the debt limit through Feb. 7.

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