As US federal debt approaches its statutory ceiling, confidence on Capitol Hill is growing that a deal to raise the limit will soon be struck, avoiding the theoretical possibility of default.

FORBES: Connect

The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

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The decisions on spending will now be taken concurrently with negotiations on the raising of the statutory debt ceiling which was reached on 31 December, with extraordinary measures expected to last until the end of February.

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