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Page last updated at 10:23 GMT, Thursday, 2 June 2011 11:23 UK

US 'not in stalemate' over debt limit

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Talks between President Obama and leading Republicans from the House of Representatives over the America's growing debt appear to remain deadlocked, despite private talks between the two sides last night.

One of the economists who signed that letter, John B Taylor, professor of economics at Stanford University, considers the "tough negotiation" ahead.


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