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The Motley Fool – Just when the sluggish economy had started to show some encouraging signs, the news of the U.S. hitting the debt ceiling of $14.29 trillion reared its head. There have been several debates on whether to raise the ceiling. But now the only way out seems to be a hike in the debt limit, or else what would follow would be “catastrophic economic consequences,” as Treasury Secretary Timothy Geithner has warned.

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