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US: No Immediate Cash Shortage If Borrowing Limit Not Increased

The U.S. says it would not immediately run out of cash if Congress fails to increase the country's $16.7 trillion borrowing limit to avoid a default, but would within days. Unless Congress acts Wednesday to increase the debt ceiling, the government will run out of borrowing authority on Thursday to raise more money to pay its bills, including interest on U.S. securities held by China, Japan and other overseas investors. The government says it has about $30 billion on hand, and some ...

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