Republicans, White House reach deal on debt extension to 2017
Washington
PRESIDENT Barack Obama and top lawmakers from both parties reached a tentative budget agreement that would avert a US debt default and lower chances of a government shutdown, lessening years of political friction over fiscal policy in Washington.
The accord would extend US borrowing authority until March 2017 - preventing a default as soon as next week - and include a two-year deal on spending levels. Details are to be worked out later, raising the prospect it will be punted to the next president.
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