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Wednesday, June 15, 2011

U.S. Getting Closer To Defaulting On Obligations

BBC News - Fed chief Bernanke warns of US debt ceiling threat: "The chairman of the US Federal Reserve, Ben Bernanke, has warned that the country's creditworthiness is at risk if its borrowing limit is not raised.

He said the US could lose its coveted AAA credit rating if Congress did not vote in favour of lifting the $14.3 trillion (£8.7 trillion) debt ceiling.

If there is no deal by August, the US may start defaulting on obligations."

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