US Averts First-Ever Default As Congress Passes Debt Deal
US senators voted to suspend the federal debt limit on Thursday, eliminating the threat of a disastrous credit default just four days ahead of the deadline set by the Treasury.
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The upper chamber of Congress rubber-stamped a bill passed a day earlier by the House of Representatives to extend the country’s borrowing authority through 2024 — staving off the next showdown until after the presidential election.