Senate Approves Debt Ceiling Increase Bill

Source:

"The Senate approved legislation that would increase the $14.3 trillion debt limit by up to $2.4 trillion."

Market Watch, Steve Goldstein

Just hours before a potential default on the nation's debt obligations, the Senate on Tuesday approved legislation that would increase the U.S. debt ceiling and reduce planned budget deficits.

By a 74-to-26 vote, the Senate approved legislation that would increase the $14.3 trillion debt limit by up to $2.4 trillion in two stages and by the Congressional Budget Office's tally, reduce deficits by $2.1 trillion over a decade. Even with the cuts, however, the U.S. is projected to increase the national debt by $7 trillion or more over the same span. . .View full article

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