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Reid: 'Fiscal cliff' deal must raise debt ceiling

Senate Majority Leader Harry Reid (D-Nev.) said Tuesday any deal to avoid the "fiscal cliff" of tax increases and spending cuts must also raise the debt ceiling, and signaled that President Obama feels the same way.

Reid said Democrats would be foolish to agree to a year-end package that raises revenues and cuts spending only to face a Republican ultimatum on the debt ceiling weeks later.

Read more on The Hill's On The Money blog.