U.S. Budget Cuts, Economic Growth

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Aug. 1 (Bloomberg) -- Jason Schenker, president of Prestige Economics LLC in Austin, Texas, speaks about the outlook for the U.S. economy and the nation's debt rating. U.S. and Japanese stock futures surged and the dollar gained versus the yen and Swiss franc amid signs American lawmakers were close to an agreement to raise the federal debt limit and avoid a default. Schenker speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)


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