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The White House could resort to an little-known line in the US constitution to prevent a ruinous default if Democrats and Republicans do not agree to raise the debt ceiling by August 2, experts say
By Marc Jourdier - AFP
Obscure clause may help US avert default
Seeded on Sun Jul 10, 2011 11:27 AM EDT
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"The secretary has cited the 14th amendment... in support of his strong conviction that Congress has an obligation to ensure we are able to honor the obligations of the United States," a senior lawyer for the department wrote.
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