Washington reaches last-minute debt-ceiling deal
July 31st, 2011
President Barack Obama late Sunday announced that a deal has been reached with Congress on raising the nation's debt ceiling that will avert a national economic crisis. Obama, in an news conference, said the agreement will "allow us to avoid default and end the crisis Washington imposed on the rest of America." The federal government is facing a Tuesday deadline for raising the debt limit. Without action by then, federal Treasury officials have said, the nation risks defaulting on debt previously approved by Congress…
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