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July 20th, 2011
04:16 PM ET

Wednesday Sneak Peek

It’s Wednesday, and here’s where we stand...

Well, it used to be months, now we’re looking at weeks – less than two, to be exact – until the Treasury Department says we’ll have to start writing I.O.U.s instead of checks to our creditors. So are we any closer to a deal? Depends on who you ask. The bipartisan “Gang of Six” presented a plan to about 50 senators and received a warm response. But there are some serious questions as to whether or not it’s even possible to put together a major deal before August 2nd. The likely alternative: a short-term stop gap. So yes, the budget will be a big topic again this Sunday.