The US debt package negotiated between Biden and McCarthy leaves neither Republicans nor Democrats fully pleased with the outcome...
THE US SENATE has fended off a default, giving final approval to a debt ceiling and budget cuts package late last night.
The compromise package negotiated between Mr Biden and House Speaker Kevin McCarthy leaves neither Republicans nor Democrats fully pleased with the outcome. Approval in the Senate on a bipartisan vote, 63-36, somewhat reflected the overwhelming House tally the day before, relying on centrists in both parties to pull the package to passage — though Democrats led the tally in both chambers.
Raising the nation’s debt limit, now 31.4 trillion dollars, would ensure the Treasury could borrow to pay already incurred US debts.
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