U.S. Budget, Debt Ceiling, Political System

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July 27 (Bloomberg) -- Daniel Mitchell, a senior fellow at the Cato Institute, a libertarian-leaning research group, talks about negotiations between U.S. lawmakers over raising the nation's debt ceiling. The Obama administration threatened a presidential veto of House Speaker John Boehner’s two-step plan to raise the U.S. debt ceiling and cut $3 trillion in government spending amid new questions about its impact. Mitchell speaks from Washington with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

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