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    IMF urges US lawmakers to raise $14.3B debt limit

    WASHINGTON (AP) — The International Monetary Fund is urging U.S. lawmakers to raise the nation's borrowing limit. It warns that inaction could lead to a spike in interest rates that would harm the U.S. economy and world financial markets.

    The debt limit is the amount the government can borrow to help finance its operations. The United States reached its $14.3 trillion borrowing limit in May. It is at risk of defaulting on its debt if it doesn't raise that limit by Aug. 2. President Barack Obama and Republican lawmakers have been at odds on a plan to raise it.

    The IMF also warns in its annual report on the U.S. economy that rising budget deficits pose a risk. But it advocates a long-term strategy for reducing them, not immediate cuts or tax increases.

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    • Trustee opposes $20M payout to American Air CEO

      The Justice Department is objecting to a proposed $20 million severance payment for American Airlines CEO Tom Horton, saying it's bigger than allowed by bankruptcy law. Horton became CEO when American ...

    • No Wonder Republican Criticism of Obama Isn’t Working

      Henny Youngman, the late borscht belt comedian, told hundreds of politically incorrect jokes. One of them was his response when asked, “How’s your wife?” “Compared to what?” he’d say.

    • Trucker bumps I-5 bridge, sees tragedy behind him

      MOUNT VERNON, Wash. (AP) — The trucker was hauling a load of drilling equipment when his load bumped against the steel framework over an Interstate 5 bridge. He looked in his rearview mirror and watched in horror as the span collapsed into the water behind him. Two vehicles fell into the icy Skagit River.

    • Wife says trucker saw bridge collapse in mirror

      MOUNT VERNON, Wash. (AP) — The wife of a Canadian trucker whose rig caused the collapse of a Washington bridge says a special vehicle called a pole car had travelled the route to make sure the load would fit.

    • Sweden's Inexplicable Riots, Explained

      For the fifth straight night, rioters have broken windows and set fire to cars in neighborhoods around Stockholm, Sweden. The violence fits the pattern, if not the scale, of other recent incidents in European cities, drawing renewed attention to the interplay of immigration, economics, and government.

    • Why is AT&T milking subscribers for an extra $500 million? ‘Because they can’

      AT&T said earlier this week that it will add a new administrative fee to each of its wireless subscribers’ monthly bills. The fee is only $0.61, which doesn’t sound like much, and an AT&T spokesperson was quick to point out to several news sites that this new fee is lower than similar fees charged by rival carriers. Subscribers were still outraged. Now that the shouting has died down a bit, however, people are looking for a batter explanation for the new charge they’ll see each month. According to one industry watcher, that explanation couldn’t be simpler: “Because they can.” “Why would AT&T do this? Because they can, and it is all in the pricing strategy,” Joe Hoffman, principal analyst at ABI Research

    • Dog Found Standing Guard Over a Tornado Victim Reunited With Her Owner

      There's a happy ending to the story of a dog, found alive in the rubble after a massive tornado devastated Moore, Oklahoma: she's been reunited with her owner.

    • A-Rod sells Miami Beach home for $30M

      MIAMI BEACH, Fla. (AP) — New York Yankees slugger Alex Rodriguez has sold his Miami Beach home for $30 million.

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