U.S. Debt Limit Increase Deal May Take Until August, Ryan Says

A congressional agreement to increase the U.S. debt limit and reduce federal spending may take until August, the Republican chairman of the U.S. House Budget Committee said.

“I think there will be a deal. It will probably take a while. Look, we have to August,” Representative Paul Ryan, a Wisconsin Republican, said on NBC’s “Meet the Press.”

The U.S. Treasury Department has said Congress must raise the $14.3 trillion debt ceiling by Aug. 2 to avoid the government defaulting on its loans.
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