The U.S. House of Representatives has passed a Republican bill to suspend the legal limit on government borrowing until mid-May. If the bill is passed by the Senate and signed by the president, which appears likely, it will delay a major showdown between Democratic President Barack Obama and Congress over budget and spending issues, and stave off the threat of the United States defaulting on its national debt.

In a surprise move just days after President Obama’s second inauguration, House … [Read More]

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Source: VOA News: Economy and Finance