Feds post-pone debt sale as debt limit talks stall
The Treasury postponed planned $31.5 billion note auctions after Clinton and Republicans failed to reach a debt limit agreement. Officials cited lack of action on raising the statutory limit to allow issuance of notes on Nov. 15, with about $25 billion in interest due by mid-November and a risk of U.S. default if unresolved. Senate leader Bob Dole said he believes the ceiling will be raised.
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Treasury Debt Ceiling Fight Looms Over Budget Talks
NBC Meet the Press commentary notes the Treasury would struggle to pay obligations without extra funding sources if Congress delays. The administration seeks a 5.5 trillion ceiling raise while Republicans push for a seven year budget balance plan before an increase. Negotiations on taxes and spending persist.
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U.S. Service Members Plead Guilty in Japan Rape Case
In Okinawa, Marine Pfc Rodrico Harp Kendrick Ledet and Navy Seaman Marcus Gill faced charges after a rape of a 12 year old girl. Gill pleaded guilty to all counts while Harp and Ledet admitted aiding the attack. Protests demanding U.S. forces cutback surged as President Clinton prepared to visit Japan.
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