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Obama's speech on the debt ceiling, choosing the right office space, Branson's underwater expedition, and more. Obama warns country of risk of default. Last night, millions of Americans watched President Obama deliver his plea to Congress to raise the debt ceiling

Eleventh-hour negotiations aren't uncommon in Washington, D.C., but the most recent duel over the debt limit seems especially tense. Unless its debt ceiling is raised from its current $14.3 trillion, or its budget is miraculously balanced, the U.S. will default on its financial obligations on August 2, leading to a credit downgrade, delayed government payments and other serious economic troubles.