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Businesses Step Into US Debt Limit Battle
Date: 5/12/2011
Written By: Financial Times, By James Politi

Excerpt: Corporate America stepped into the political battle over the US debt limit, pleading for congressional leaders to raise the country’s borrowing authority in a “timely fashion” to avoid damaging the economy. On Wednesday, a group of the largest business trade associations and lobby groups sent a letter to Republican and Democratic leaders on Capitol Hill saying it was critically important for the US to stand by its financial promises and preserve its creditworthiness…In the letter, the business groups – which also included the National Association of Manufacturers, the National Foreign Trade Council, and the Organisation for International Investment – said they were not seeking to diminish the need to restore the country’s public finances.