Senate Approves Debt Limit Extension - KALB-TV News Channel 5 & CBS 2

Senate Approves Debt Limit Extension

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WASHINGTON (AP) -  Congress has approved legislation to permit the government to borrow hundreds of billions of dollars more to meet its obligations, averting a first-ever government default that had loomed as early as mid-February.

The 64-34 vote in the Senate sends the measure to President Barack Obama, who has said he will sign it into law. The legislation would temporarily suspend the $16.4 trillion limit on federal borrowing.

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