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Democrats and Republicans in the Senate have nearly completed a deal that would reopen the government and increase the Treasury Department's debt ceiling. President Obama has signalled his support, as have Democratic leaders in the House. But House Republicans aren't ready to give up on their dream of threatening shutdown and default to extract concessions. They're making yet another counter-offer, with some of the same demands Democrats rejected perviously—even though, within two days, Treasury is likely to exhaust the "extraordinary measures" it's been using to pay its bills.

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