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Obama signs US debt bill into law
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Wed Aug 3, 2011 BBC News 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, after negotiations went down to the wire. It raises the debt limit by up to $2.4tn from $14.3tn, and makes savings of at least $2.1tn in 10 years. But the bill's passage failed to lift financial markets. Read More: http://bbc.in/o5q8PR |
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