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  • U.S. President Barack Obama speaks after making a televised statement at the White House in Washington, D.C., U.S., on Monday, May 1, 2011. Al-Qaeda leader Osama bin Laden has been killed in a U.S. operation, Obama said. Photographer: Brendan Smialowski/Pool via Bloomberg

    Killing boosts Obama's budget clout

    The death of Osama bin Laden improved President Obama's re-election prospects and strengthened his hand in negotiations with congressional Republicans, raising hopes in financial markets that it will be easier to cut defense spending and make progress tackling the budget deficit in coming weeks.

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