House GOP Seeks to Defuse Debt Crisis

Posted at: 01/23/2013 7:32 AM

WASHINGTON (AP) - The House is expected to vote today to let the government borrow enough to pay three months' worth of bills.
Unless Congress acts, the Treasury sometime in late February or early March will not have enough money to pay all of its obligations, raising the risk of a first-ever default on the government's debts.

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