4/25, 9:49 PM (Source: TeleTrader)
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WH urges Congress GOP to quickly lift debt ceiling - report

Top White House officials led by acting chief of staff Mick Mulvaney are urging key congressional Republicans to act as soon as possible to lift the debt ceiling in order to avoid damaging the economic growth, stock market and labor market later this year, the Washington Post reported on Thursday citing four people briefed on the ongoing discussions. Raising the debt ceiling and allowing more borrowing is necessary for the government to avoid defaulting on its own debt, which now stands at almost $22 trillion.

The request comes amid deadlocked budget discussions between the White House and Capitol Hill, mostly congressional Democrats over President Donald Trump's demands for money for his Mexico border wall project and increased military spending. Trump has already threatened to force another government shutdown if his demands are not met by the end of the fiscal year on September 30.

Breaking the News / FH