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Biden signs bill raising U.S. debt limit, averting default

Biden signs bill raising U.S. debt limit, averting default

WASHINGTON, Oct 14 (Infoday) – U.S. President Joe Biden on Thursday signed legislation temporarily raising the government’s borrowing limit to $28.9 trillion, pushing off the deadline for debt default only until December.

Without the increase in the debt ceiling, the U.S. Treasury had estimated it would run out of money to pay the nation’s bills on Oct. 18.

Reporting by Eric Beech;
Editing by Sandra Maler

Our Standards: The Thomson Infoday Trust Principles.

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