12/15/21 - Senate Approved Legislation To Lift the Nation's Debt Limit

Wednesday, December 15, 2021 at 7:14 AM

Congress approves a debt limit increase bill and passes is along to the President for his signature.

WASHINGTON - Early this morning, lawmakers in Congress took a vote to avert a debt default.

On a near-party-line vote, lawmaker passed a $2.5 trillion increase in the nation's borrowing.

The vote came just one day shy of a deadline set by Treasury Secretary Janet Yellen, who warned that she was running out of maneuvering room to avoid the nation's first-ever default.

The nation's current debt load of $28.9 trillion has been racking up for decades.

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