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Treasury Department

The Treasury Department is seen near sunset in Washington, Wednesday, Jan. 18, 2023. The Treasury Department projects that the federal government on Thursday will reach its legal borrowing capacity, an artificially imposed cap that lawmakers have increased roughly 80 times since the 1960s. Markets so far remain calm, as the government can temporarily rely on accounting tweaks to stay open. (AP Photo/Jon Elswick)

US Treasury buys time for Biden and GOP on debt limit deal

The countdown toward a possible U.S. government default began Thursday with Treasury implementing accounting measures as a stopgap, while frictions between President Joe Biden and House Republicans raise alarms about whether the U.S. can sidestep a potential economic crisis.

Associated Press

Jan 19, 2023, 12:16 PM

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