U.S. Senate leaders from both parties worked during the weekend to build support for legislation that would allow President Barack Obama to raise the debt limit. The effort, based on a proposal from Senate Minority Leader Mitch McConnell, R-Ky., has support from Senate Majority Leader Harry Reid, D-Nev. "At a minimum, Congress has a way to take action and avoid default on the U.S. debt," said Jacob Lew, Obama's budget director.

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