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set. this is what we re watching at this hour. thank you for being here. i m kate bolduan. the battle over the nation s debt ceiling is upon us. the united states just hit its borrowing limit of $31.4 trillion. and that means that the treasury department must now begin to use a series of what is called extraordinary measures to avoid default. extraordinary measures that are no longer so extraordinary since they have been they ve had to be used so often. this is a completely avoidable problem that falls entirely on congress to raise the debt limit. something that republicans with right now refusing to do without cutting spending to the actual bills that have come due, by the way. democrats say that is not on the table. if the u.s. defaults, it will cause absolute chaos in the global economy. christine romans is standing by for us with this. kind of saw this one coming, christine. but we have hit the moment. what happens now. so, kate, the clock starts now. once the u.s

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