27/07/2011 09:47 BST | Updated 26/09/2011 06:12 BST

Republicans Scramble To Rewrite Debt Plan Following Figures Bungle

The Republican Party has had to re-write its plans to lift the US debt ceiling after miscalculating the spending cuts included in their proposal by almost $500m. A deal must be reached before the second of August as this is when the federal government is expected to effectively run out of money.