The Treasury department is preparing for the possibility of a national default by deciding which bills to pay first if President Joe Biden fails to strike a deal with House Speaker Kevin McCarthy on raising the debt limit. California, Arizona and Nevada are proposing new cutbacks to their use of the drought-stricken Colorado River to keep it from running dry. And, TikTok is suing the state of Montana to block a law that would put an outright ban on the popular video-sharing app.
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