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Congress moves to punt debt limit crisis into December

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

The House is set to pass a bill Tuesday evening to briefly alleviate the squeeze of the debt limit, warding off an economically destructive default for just over seven weeks. Once the House fast-tracks the temporary remedy, President Joe Biden is expected to sign the legislation in short order, allowing the Treasury Department to keep paying loans for the nation’s more than $28 trillion in debt. The extra borrowing power is estimated to last until about Dec. 3, the same day government funding will expire. That patch is far shorter…

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