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Sen. Charles Schumer, D-N.Y., pauses during a news conference about the debt limit, Thursday, July 14, 2011, on Capitol Hill in Washington. (AP Photo/Evan Vucci)

WASHINGTON (AP) — Testy lawmakers pointed fingers at one another and President Barack Obama on Thursday as negotiations over raising the national debt limit entered a perilous endgame. Wall Street eyed the standoff with growing anxiety, warning of catastrophe if the U.S. defaults on its obligations.

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