Republicans advance bill to prepare for debt ceili

By Sam Youngman WASHINGTON (Reuters) - A key committee of the House of Representatives approved a measure on Wednesday designed to make it easier for Republicans to again withhold approval of a rise in the government debt ceiling to extract spending cuts from President Barack Obama. The government is expected to hit the limit set by Congress on its ability to borrow money by late July or early August. Without an increase in the limit - known as the debt ceiling - the United States faces the prospect of defaulting on its debts, which could shake up markets and damage the economy. ...