Crisis averted: Congress strikes a debt limit deal
The U.S. House and Senate signed onto last-minute legislation Wednesday, effectively ending a 16-day government shutdown, while also lifting the nation's debt ceiling to avoid a default. The New York Times has more on the fight, which came down to the wire:
"With the Treasury Department warning that it could run out of money to pay national obligations within a day, the Senate voted overwhelmingly on Wednesday evening, 81 to 18, to approve a proposal hammered out by the chamber’s Republican and Democratic leaders after the House on Tuesday was unable to move forward with any resolution. The House followed suit a few hours later, voting 285 to 144 to approve the Senate plan, which would fund the government through Jan. 15 and raise the debt limit through Feb. 7.
Mr. Obama signed the bill about 12:30 a.m. Thursday."