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Senate in spotlight as US on brink of possible default

US lawmakers embarked on another day of high-stakes political brinkmanship Wednesday, battling to scrape together an eleventh hour deal to protect Washington`s battered financial standing.

US debt default imminent as frantic political attempts fail

Frantic attempts to persuade House Republicans to lift the federal debt limit collapsed Tuesday night, leaving Washington careering toward a critical deadline of October 17 to raise the country's debt ceiling.

Obama rejects House Republican debt plan, shutdown continues

Efforts to end the US government shutdown and avoid a debt default before the October 17 deadline remained elusive as the White House Tuesday dismissed the latest House Republican proposal to resolve the impasse, alleging it was tantamount to "ransom".