Mid-July key to raising US debt limit-Sen. Schumer

WASHINGTON Mon May 9, 2011 12:36pm EDT

WASHINGTON May 9 (Reuters) - The fight over raising U.S. borrowing authority needs to be resolved between Congress and President Barack Obama by mid-July in order to avoid rattling global financial markets, Democratic Senator Charles Schumer said on Monday.

During a telephone press conference urging House of Representatives Speaker John Boehner to commit to raising the debt limit, Schumer said "If nothing's happening by July 15 or so, I'd say markets are going to get really, really worried, so the sooner the better." (Reporting by Richard Cowan and Thomas Ferraro; Editing by Jackie Frank)

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