United States steps back from debt cliff… for now

Published by
AFP

Washington (AFP) – The United States staved off a credit default Thursday that would have sent the global economy into a tailspin as Washington’s warring political factions agreed to a stop-gap fix to raise the nation’s debt limit. Chuck Schumer, who leads the Democrats in the Senate, announced the breakthrough after fractious negotiations in Congress going into the early hours of the morning. “We have reached agreement to extend the debt ceiling through early December, and it’s our hope that we can get this done as soon as today,” Schumer said. With the threat of a default just 11 days off, R…

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