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Debt ceiling increase may not be needed until October, analysts say

April 26, 2013 at 3:05 PM

WASHINGTON, April 26 (UPI) -- An increase in the U.S. debt ceiling may not be needed until October, the Bipartisan Policy Center reported Friday.

The center reported in January Congress would be required to increase the borrowing cap as early as August to avoid default, but fresh information suggests the deadline for a debt-limit deal could come later, it said.

Congress agreed to suspend the debt limit until May 19, the date the limit will automatically rise to accommodate borrowing, the Washington newspaper The Hill reported Friday.

The center estimated the limit will be about $250 billion higher after the suspension, up from its current $16.4 billion borrowing cap to $16.6 billion to $16.7 billion.

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