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Unless Congress votes to raise it, Treasury will have to stop paying bills such as salaries, pensions, and in the extreme, interest on the national debt, which would trigger a cataclysmic default.In theory, a deal should be within grasp.
Related: Labour needs to define social democracy and the language to build it Treasury sources said the expectation was that the savings would be found from day-to-day running costs rather than capital projects but it would be up to departments to come up with suggestions.
Although he has not completely convinced the financial markets that he means it, Treasury Secretary Paul H. O'Neill, backed by the White House, has repeatedly insisted that he has no plans to intervene in the currency markets or to talk down the dollar, which has shot up this year against the euro and the Japanese yen.
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Or, as Samuel Beckett had it: "Try again.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com