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Mike Lee says failure to raise debt ceiling doesn't have to cause default

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Sen. Mike Lee, R-Utah, claimed that failing to raise the debt ceiling would not automatically lead to the U.S. defaulting on its obligations -- at least not in the short term. But it would require the government to "prioritize" its debt payments, he said, during a conference call hosted by the conservative Federalist Society. It ... is important to recognize -- at least, as I see it -- that...

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