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Congress Faces Scramble to Raise Debt Ceiling

The coming week will see a return to fiscal drama in the U.S. Capitol with lawmakers scrambling to raise the federal borrowing limit before they adjourn for a week-long recess. Democrats and Republicans have yet to agree on a formula to boost the debt ceiling, and failure to act would leave the U.S. government unable to pay all its bills by the end of the month. President Barack Obama and his Democratic allies in Congress are demanding a conditions-free increase in the government's...

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