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Debt talks continue as deadline looms




U.S. Rep. Louie Gohmert (R-TX), (L) and U.S. Rep. Steve King (R-IA) (R) look on as Republican presidential candidate and U.S. Rep. Michele Bachmann (R-MN) speaks at a news conference at the U.S. Capitol July 13, 2011 in Washington, DC. Gohmert, Bachmann and King spoke on legislation regarding the debt ceiling and military benefits.
U.S. Rep. Louie Gohmert (R-TX), (L) and U.S. Rep. Steve King (R-IA) (R) look on as Republican presidential candidate and U.S. Rep. Michele Bachmann (R-MN) speaks at a news conference at the U.S. Capitol July 13, 2011 in Washington, DC. Gohmert, Bachmann and King spoke on legislation regarding the debt ceiling and military benefits.
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Tensions are high in Washington as talks are at an impasse on raising the debt ceiling. President Obama will meet with Republicans Thursday afternoon. He walked out of their Wednesday meeting in frustration saying, "Enough is enough." The deadline is fast approaching...and Moody's has already warned that it could lower the government's credit rating if a deal isn't reached soon. It appears that no one in Washington wants that to happen, so why can't Republicans and Democrats reach an agreement? One possible explanation - the Tea Party. Politico's Jonathan Allen joins us with the latest from Capital Hill.