Source: CAROLINA-VIRGINIA, FARMER, 7/25/11

Reaching a deal to reduce the nation's deficit and raise the debt ceiling appears to now lie on the shoulders of President Obama and House Speaker John Boehner, R-Ohio, at least for now. Top aides say the negotiations are honing in on a package to reduce deficit spending by $3 trillion during the next decade through spending cuts and a revenue-increasing tax code overhaul in 2012.

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