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Senate leaders struck a deal to pull the U.S. from the brink of default—for two months, anyway. Senate Majority Leader Chuck Schumer of New York and Minority Leader Mitch McConnell agreed to raise the debt limit after the Kentucky Republican offered the concession on Wednesday. The accord allows the Treasury to meet obligations through Dec. 3—which just happens to be the same day a short-term spending bill runs out. But even the band-aid isn’t a sure thing: the House still has to approve it. And all of this brinkmanship is deeply intertwined with a Democratic effort to pass President Joe Biden’s sweeping economic agenda. In other words, the holidays could get ugly. —Margaret Sutherlin


=====from bloomberg




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