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Discussion Forum : News and Current Events :  As Debt Limit Reached, Agreement Still Far Off

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  As Debt Limit Reached, Agreement Still Far Off


The U.S. government is expected to hit the $14.294 trillion debt ceiling Monday, setting in motion an uncertain, 11-week political scramble to avoid a default.
The Treasury Department said Monday it will stop issuing and reinvesting government securities in certain government pension plans, part of a series of steps designed to delay a default until Aug. 2.

The Treasury's moves buy time for the White House and congressional leaders to reach a deficit-reduction agreement that could clear the way for enough lawmakers to vote to raise the amount of money Congress allows the nation to borrow. ...

read more: http://online.wsj.com/article/SB10001424052748703421204576325583050561022.html


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