crisisPosts

With the clock ticking down before the world’s richest country effectively went bankrupt, US politicians have at last agreed on a deal to raise the country’s debt limit.

After months of fighting, Republican and Democratic leaders have come to an arrangement that lifts the US debt ceiling by up to US $ 2.4trillion from the current US $ 14.3trillion.

It is understood that the other part of the deal involves the US government deficit being cut by a similar amount through the next decade.

Unless an agreement was reached by tonight the US could have defaulted on its debts – and that would have had horrendous consequences for not only the US but many other countries around the world.Continue Reading

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