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Jul 30, 2011

US Debt Bill: House Approves but Senate Rejects

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The US debt bill crisis still continues causing concern to the global investors,as the treasure will be running out of debt to meet the country's bills.

The emergency legislation, the debt bill has bee approved in the House but Senate scuttled it less than two hours later.

This is very a tough situation for the economy as the bill needs to be approved at any cost to save the country for being declared default .

First time in the history, the US economy hangs in the balance over the debt ceiling bill.

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