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Treasury Secretary Timothy Geithner warned on Tuesday that the U.S. will likely hit its debt limit sometime before the end of the year. At the same event in Washington, House Speaker John Boehner promised that any increase in the nation's debt ceiling would have to be accompanied by corresponding budget reductions. .
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The plight of Chinese dissident Chen Guangdeng has overshadowed the strategic and economic talks between the United States and China this week. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner traveled to Asia for this high-level annual summit, and found themselves answering questions about human rights in one of their biggest economic partners. James Fallows of The Atlantic writes frequently about China, and he talks to weekends on All Things Considered host Guy Raz about what was achieved in Beijing.
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With Secretary of State Hillary Rodham Clinton and Treasury Secretary Timothy Geithner due in China for economic talks that start on Thursday, the two countries are talking about Chen Guangcheng, who escaped from house arrest earlier this month.
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The move isn't as severe as the one taken earlier this month by S&P, because it leaves France's rating intact. The credit of Italy and Spain, however, was knocked down two notches.
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Geithner say she's confident President Obama will be re-elected. And, Geithner's also confident "he's not going to ask me to stay on." He spoke with Bloomberg Television today.
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The discussion over raising the nation’s debt ceiling is focused in the House this week. But that’s not stopping Colorado Democratic Senator Mark Udall…