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US Treasury to take steps to avoid debt ceiling

The U.S. Treasury Department will begin taking steps this week to delay hitting the government's $16.4 trillion borrowing limit. The government is facing a crunch on the debt ceiling because the issue has become ensnarled in talks to avoid some $600 billion in tax hikes and spending cuts due to begin in early January. Failing to raise the debt ceiling could cause the government to default on its debt.

 

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