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Congress's Debt Ceiling Clashes Spike Economy Worries

The U.S. Treasury secretary said recently that the global economy could face a crisis if Congress failed to meet a November 3 deadline for raising the country's debt ceiling — the legal limit on the amount of money the government can borrow to pay debts. After many years of spending hundreds of billions of dollars more than it collects in taxes each year, Washington's current debt is more than $18 trillion. That is bigger than the annual output of the entire United States, which...

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