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'There will be no upward cap'

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Senior adviser David Axelrod acknowledges in an interview on TODAY that it's not clear that President Obama has the authority to compel BP to set up a fund to speed payments of claims to victims of the oil spill. "We believe we have the authority to compel that, but we also believe we've been in discussions with BP," he tells NBC's Matt Lauer this morning. "They understand the pressures they are under, and we expect them to make good on their obligations." Regardless, he says, the White House is adamant that "there will be no upward cap. ... They will have to deal with whatever they owe, and they'll have to pay every dime they owe."