Washington | Concerns are growing that a bill to suspend the US debt ceiling for two years and prevent the country from running out of money in less than a week could be blocked before it reaches a vote.
President Joe Biden and Republican House Speaker Kevin McCarthy finally agreed to the deal on the weekend after marathon negotiations to suspend the $US31.4 trillion ($48 trillion) debt ceiling for two years and freeze, or slightly cut, spending for the same period.
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Matthew Cranston was The Australian Financial Review’s United States correspondent.
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