U.S. Debt Limit is Being Urged Higher by Federal Chief Bernanke

Federal chief Ben Bernanke pushed Congress to increase the U.S. debt limit on Thursday. He warned that congressmen using the federal government’s debt limit as a political tool risk destabilizing worldwide markets. The debt limit of $14.3 billion is expected to be reached Monday but Treasury Secretary Timothy Geithner said that his department can continue to keep the government running until late summer.

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Bernanke pushes for higher U.S. debt limit