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A debt ceiling disaster?

Image by Grace Gay for Research Professional News

Caps on US government spending could cause a slowdown in basic research and entrepreneurship

On 1 May, treasury secretary Janet Yellen warned that the US could default on its debts by 1 June.

The announcement has thrown fuel on the slow-burning issue of the US hitting its debt ceiling—the limit set by Congress on how much the government can borrow to pay for spending.

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