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(Washington, DC)  —  President Obama is expected to give an update this morning on the ongoing debt and spending talks in Congress.  The news conference is set for 11 a.m. Eastern time.  A White House meeting between the President and key lawmakers lasted just 75 minutes yesterday.  Obama is slated to meet with congressional leaders again today in an effort to strike a deal on slashing the deficit and raising the debt limit.  Officials have warned of devastating economic consequences if Congress doesn’t raise the debt limit by early next month.

Source: Metro Networks Inc.