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Page last updated at 08:45 GMT, Monday, 18 July 2011 09:45 UK

'Serious problem' of US debt ceiling

US politicians have until 2 August to agree to raise the country's debt limit but could the country ever end up defaulting on its debts?

Democrat Congressman Peter Welch outlines "the immense damage" that could be done if the debt ceiling is not raised.

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