Congress still at odds over debt deal

The U.S. House and Senate formed afresh Monday on aggressive affairs to allotment abroad huge amounts of U.S. spending as the Republican amount for adopting the American debt absolute — a all-important admeasurement to anticipate an aberrant Aug. 2 default. Political leaders had hoped to bang a accord Sunday to assure investors that the accessory action in Washington was advancing an end, appropriation fears that the United States would be clumsy to pay its bills back the accepted borrowing absolute expires a anniversary from Tuesday.As all-around markets watched nervously, both parties were now amalgam battling fallback plans. The Republicans assert that any access in borrowing ascendancy be abbreviate appellation and accommodate no tax increases. Democrats are captivation close to a plan that would accession the debt beam abundantly to accumulate it off the aldermanic calendar until afterwards the 2012 election.A plan by Senate majority baton Harry Reid does that but would abandon adolescent Democrat President Barack Obama's hoped for increases in tax revenues to account cuts to the U.S. amusing assurance net.