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Summary Stocks are falling as US lawmakers remain in a bitter stalemate over raising borrowing limit.
Republican and Democratic lawmakers have offered competing proposals to avoid a catastrophic default on the governments debt. A resolution still appears a long way off. President Barack Obama called for a compromise in a televised address Monday, but House Speaker John Boehner said the White House has failed to negotiate in good faith. If an agreement is not reached by Aug. 2, the US wont have enough cash to pay all its bills.At the opening bell Tuesday, the Dow Jones industrial average is down 45 points, or 0.3 percent, at 12,549. The Standard & Poors 500 index is down 2, or 0.2 percent, at 1,335. The Nasdaq composite is flat at 2,845.
