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Obama Debt Commission: Erskine Bowles, Alan Simpson To Chair Panel, Says Obama Official

Determined to have a deficit commission with or without Congress' backing, President Barack Obama plans to announce on Thursday that he is establishing a panel similar to – although weaker than – the one lawmakers rejected.

 

Hoyer: U.S. debt limit to rise by at least $1.8T

Increase is much larger than previously planned, but is necessary to avoid defaulting on debts next year, House majority leader says.

 

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