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Carolyn Kaster/The Associated Press
President Barack Obama delivers a statement in the Rose Garden of the White House in Washington Tuesday following the Senate's passing of the debt ceiling agreement.

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With scant time to spare, President Barack Obama signed legislation Tuesday to avoid an unprecedented national default that he said would have devastated the U.S. economy. But the truce with Republicans that defused the crisis seemed to be fading already.

By By DAVID ESPO August 2, 2011