US Senate averts crisis by voting to extend debt ceiling


The US Senate has voted to temporarily raise the nation’s debt limit, avoiding a historic default that experts say would have devastated the economy. Senators agreed to increase the limit by $480bn (£352bn), which will cover the US until early December. The bill was approved in a 50-48 vote, following weeks of partisan fighting. The breakthrough came less than two weeks before the US was set to be unable to borrow money or pay off loans for the first time ever. The bill now has to be approved by the House of Representatives, and will then be sent to President Joe Biden to be signed into law. The vote in the upper house of Congress came after Republican Senate leader Mitch McConnell offered his support for a short-term extension.(BBC)…[+]