Thursday, 17 October 2013

US CONGRESS AGREES LAST MINUTE DEAL ON DEBT BURDEN



The United States Congress has approved a last minute deal for the reopening of government business as well as raise the federal debt limit.
The Democratic-controlled Senate approved the deal by 81 votes to 18.
The bill was then passed by 285-144 in the House of Representatives, whose Republican leadership begrudgingly agreed to support the measure. It came hours before the deadline to raise the $16.7 trillion limit.

Welcoming the vote, President Barack Obama expressed optimism that it will end what he called government by crisis. He urged both Democrats and Republicans to focus on strengthening the economy, and other matters that improve the lives of Americans.
However, some Americans are unhappy at the impasse.
The deal will fund the government until January 15th and extend government borrowing authority to February 7th.     It will also set up a panel of  politicians to draw up a longer term budget deal, which President Obama hopes will be agreed upon amicably

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