US avoids default as Obama signs debt bill into law

[xchrom]

http://www.bbc.co.uk/news/world-us-canada-14379240

President Barack Obama has signed legislation to increase the US debt ceiling and avert a financial default after Congress voted in favour of a bipartisan compromise deal

The bill cleared its final hurdle in the Senate by 74 votes to 26.

The law raises the debt limit by up to $2.4tn (£1.5tn) from $14.3tn, and makes savings of at least $2.1tn in 10 years.

The deal was struck after negotiations between Republicans, Democrats and the White House went down to the wire.

[uponit7771]

1. With such SEVERE cuts in SS and Medicare this signing is very immoral!!! /sarcasm

[TheWraith]

2. And to think, I was going out tonight to buy booze, ammo, and clean out my bank account.

Now I just have to buy booze and ammo.