U.S. lawmakers begin last-ditch effort on debt ceiling

By way of Richard Cowan WASHINGTON (Reuters) – The U.S. Senate prepared for a last ditch effort Wednesday to keep away from a historic lapse in the govt's borrowing authority, a breach that President Barack Obama has stated could lead to default and ship a damaging blow to the global economic system. After a day of cease-and-go negotiations, the top Democrat and Republican in the U.S. Senate have been said to be as regards to agreeing on a inspiration to raise the debt restrict – and reopen the partially shuttered executive – for consideration by the entire Senate on Wednesday. …