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CNN's Lisa Sylvester reports no country as large as the U.S. has ever defaulted on its debt.
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Republican Jim Jordan opposes Speaker John Boehner's debt relief plan in favor of the "cut, cap and balance" plan.
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White House Sr. Adviser David Plouffe says there must be compromise to make sure the country doesn't default.
RELATED STORY: The 'big headache': Boehner backed into corner by tea party, Obama