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US Increases Borrowing Authority, Averting Default

The U.S. Congress has increased the government's borrowing authority for the next 13 months, averting the looming threat of a default on its debts at the end of this month.The Senate approved the legislation Wednesday on a 55 to 43 vote, completing action on the measure and sending it to President Barack Obama for his signature. Mr. Obama, a Democrat, and his Republican opponents in Congress have often engaged in contentious debate over whether to increase the country's debt ceiling....

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