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US debt ceiling looms, but battle may not be as bitter

The world`s largest economy once more faces the threat of default unless the US Congress raises the debt ceiling, but feuding between Barack Obama and foes may not push the nation to the brink this time.

'Political deadlock could impact credibility of US dollar'

The current political deadlock over the US budget and debt ceiling could impact the credibility of the US dollar, a leading bank in the Gulf region has said.

'US could default by Feb if borrowing authority not extended'

Warning US lawmakers that time is fast running out on the debt ceiling issue, Treasury Secretary Timothy Geithner has told the Congressional leadership that America could default by mid-February.