The U.S. debt ceiling 'bomb' is ticking again

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The U.S. debt ceiling 'bomb' is ticking again

U.S. politicians are arguing again over the debt ceiling. Democrats hope to raise the ceiling unconditionally while Republicans look to cut down government's spending beforehand. The debt ceiling has become a tool of partisan bickering. But if debt default occurs, it will not only devastate the U.S. economy and send ripples through financial markets, but also threaten global economic stability.

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