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The Boston Globe

Business

Debt ceiling maneuvering threatens economy, analysts say

It’s fortunate President Obama and House Republicans appeared to be moving closer to an agreement to at least temporarily raise the debt ceiling, which would postpone a scenario that most analysts agree would be catastrophic for the US and global economies.

Without such a deal, the federal government would hit its current borrowing limit around Thursday, risking the first debt default in US history while potentially throwing financial markets into turmoil and pushing the US economy into yet another recession.

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