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May 27, 2011

Defaulting on U.S. debt dangerous even to consider

Congress is playing a game of "chicken" with the nation's finances, and the U.S. economy is at stake, with an Aug. 2 deadline. Unless Congress raises the legal ceiling to permit more federal borrowing, the U.S. may default on its debt, something that experts agree should be unthinkable, because it could cause enormous financial damage worldwide.

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