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Biden Signs Bill Raising Debt Limit

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President Biden has signed a measure raising the federal debt limit and averting a default crisis. The bill raises the debt ceiling by two-and-a-half trillion dollars into 2023.

Treasury Secretary Janet Yellen had warned of catastrophic economic consequences if the government were to default on its debt obligations this month. The overall U.S. debt is estimated to be more than 28-trillion dollars.

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