Congressional leaders and President Obama said Sunday they had reached an agreement to raise the nation's debt ceiling, ending a standoff that had threatened the U.S. government's ability to pay its bills. The agreement would cut trillions of dollars in spending and would raise the limit on government borrowing by $2.1 trillion, enough to get the government through 2012, according to published reports. “The leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default,” the president said, speaking at the White House, according to Bloomberg News…

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