Treasury moves up debt limit deadline to Nov. 3 and warns of default risk

October 15, 2015 2:43 PM

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The Treasury Department said Thursday that Congress must raise the debt limit by Nov. 3 or the federal government risks default.

The new deadline is two days earlier than estimated at the start of the month and adds pressure on lawmakers to increase the $18.1 trillion debt limit, a politically volatile issue that pits conservatives against the Obama administration.

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