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US Treasury secretary: Republicans underestimate debt ceiling danger
The Treasury secretary, Jack Lew, warned on Thursday that the continued brinksmanship over the debt limit risks unforeseen consequences in the financial markets that could in turn lead to the US running out of cash within days. As pressure mounted on Congress to cut a deal before next Thursday’s deadline for extending the federal debt limit, Lew accused Republicans of underestimating the danger of inadvertently triggering a stampede among investors that could rapidly drain remaining reserves...Read More