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The U.S. is expected to reach its borrowing limit next Thursday, causing the Treasury Department to begin deploying “extraordinary measures” that buys the federal government enough time to starve off the specter of a debt default until at least early June as Washington kicks off a contentious debt ceiling battle.
President Biden urged Republicans to back off playing “Russian roulette with the American economy” and help Democrats raise the debt ceiling ahead of the looming default deadline while torches the opposing party’s as “hypocritical, dangerous and disgraceful” in blocking the increase twice last week.
