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Year-end US fiscal deal must include debt limit hike - Reid
November 29, 2012 / 5:33 PM / 5 years ago

Year-end US fiscal deal must include debt limit hike - Reid

WASHINGTON (Reuters) - An increase in the U.S. debt limit must be part of any deal to resolve the looming “fiscal cliff” of year-end tax hikes and spending cuts, Senate Majority Leader Harry Reid said on Thursday.

Senate Majority Leader Harry Reid pauses as he speaks to the media on Capitol Hill in Washington, November 14, 2012. REUTERS/Yuri Gripas

Reid, a Democrat from Nevada, told reporters after meeting with U.S. Treasury Secretary Timothy Geithner that President Barack Obama won’t sign any agreement that does not contain a debt limit hike. The Treasury is expected to reach its statutory borrowing limit around year-end, but could avoid default through emergency cash-management measures for several more weeks.

Editing by Sandra Maler

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