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FT Editorial: Trying to escape US debt paralysis

With barely two weeks to go before the August 2 deadline, brinkmanship in the tortuous debt-ceiling talks continues to carry Washington and the world closer to a US debt default. According to an admittedly disputed account, an angry Barack Obama stalked out of a negotiating session this week. This shows how high tempers are running.

Whether that kerfuffle was part of the operatics one should expect before a last-minute deal is struck, or a sign of impending breakdown, is hard to say. What is easy to say is that this is an astonishing, deplorable and unacceptable way for the US to conduct its affairs.

The blame lies increasingly with Tea Party Republicans in the House of Representatives. To a greater or lesser degree, other factions in the budget dispute have signalled willingness to compromise. The Tea Party still wants to have everything its own way, regardless of the consequences.

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