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US: A Possible Move to Increase Its Borrowing Limit

The United States could be taking the first steps toward increasing its borrowing authority so it does not default on its financial obligations. The White House said Thursday that U.S. President Barack Obama is encouraged by an offer from Republican lawmakers in the House of Representatives for a six-week increase in the cap on the $16.7 trillion borrowing authority the U.S. expects to reach in a week. At that point, the U.S. says it would run short of money to pay all its bills. White House ...

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