SUMMARY
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Two days of last-gasp talks produced no deal between US political leaders struggling to avert a fiscal crisis that will hit America and the world economy. Party leaders in the US Senate groped for a compromise to head-off a punishing package of spending cuts and tax hikes that is due come into force on January 1 and which could roil global markets and plunge the US into recession. Senate Republican minority leader Mitch McConnell warned that, despite through-the-night talks, negotiators were still a long way from forging a deal.
Read the full story on Rappler.
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