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Why is the US divided over debt?

The political stand-off over America's debt crisis is becoming increasingly bitter, with President Obama now warning that he will veto a Republican plan, unless they accept a compromise.

Unless politicians agree a package by 2 August, the US may be unable to pay its bills, triggering an economic crisis.

The political division in Washington is causing some anxiety among investors in New York.

Mark Mardell reports.

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