WASHINGTON, May 31 (Reuters) - Vice President Joe Biden and top lawmakers are trying to reach a deal that would reduce the United States' spiraling debt and increase the U.S. borrowing limit.
The Treasury Department says Congress must raise the $14.3 trillion debt ceiling by Aug. 2 to avoid a potentially catastrophic default on its obligations, but both Republican and Democratic lawmakers say any increase must include measures to ensure the country's debt remains at a sustainable level.
The Treasury Department says Congress must raise the $14.3 trillion debt ceiling by Aug. 2 to avoid a potentially catastrophic default on its obligations, but both Republican and Democratic lawmakers say any increase must include measures to ensure the country's debt remains at a sustainable level.
