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WASHINGTON: President Joe Biden on Saturday signed a invoice that suspends the US authorities’s $31.4 trillion debt ceiling, averting what would have been a first-ever default with simply two days to spare.
The Home of Representatives and the Senate handed the laws this week after Biden and Home of Representatives Speaker Kevin McCarthy reached an settlement following tense negotiations.
The Treasury Division had warned it will be unable to pay all its payments on Monday if Congress had did not act by then.
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Biden signs debt limit bill, avoiding US default
