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Clock Ticking to Avoid US Debt Default

U.S. lawmakers will have three weeks to raise America’s $20 trillion borrowing limit and avert a potential debt default when Congress gets back to work next month — the first such deadline to occur during the Trump administration.

If recent history is a guide, raising the debt ceiling will be anything but drama-free, with lawmakers demanding concessions in return for votes to prevent an outcome that could throttle global finances: the U.S. government unable to pay its bills.

The White House is pushing for a so-called “clean” debt ceiling increase with no conditions attached, something Congress delivered dozens of times …read more

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