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U.S. Has Until At Least September to Lift Debt Ceiling: Analysts

Spending growth in May outpaced revenue gains, Treasury says.

The U.S. probably has enough borrowing capacity until at least September even as slower revenue and rising spending widen the budget deficit, according to analysts.

The U.S. budget gap increased to $88.4 billion in May from $53 billion a year earlier, according to Treasury Department figures released Monday. Revenue rose 7% while spending climbed 19%, the data showed.

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