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House Republicans Prepare For Debt Ceiling Showdown

House Republicans are preparing for another showdown over the debt ceiling this summer. The House Ways and Means Committee passed a bill Wednesday to protect Social Security recipients and investors in Treasury bonds if the government hits the limit of its borrowing authority.

 

Obama demands quick action to raise debt limit

President Barack Obama demanded Monday that Congress raise the federal debt limit quickly, warning that "Social Security benefits and veterans' checks will be delayed if they don't," and cautioning Republicans not to insist on concessions in exchange.

 

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