USA: Senate averts economic crisis with short-term deal on debt limit

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The US Senate passed legislation on Thursday night to raise the debt ceiling through December, temporarily avoiding what experts had deemed an unprecedented federal default with severe economic consequences for Americans, as seen in Capitol Hill, Washington DC.

Three-fifths of Senators voted in support of the bill.

“Republicans played a dangerous and risky partisan game, and I am glad that their brinkmanship did not work,” said US Senate Majority Leader Charles Schumer.

The bill will give legislators time to agree on a potential longer-term agreement.

“What is needed now is a long-term solution, so we don’t go through this risky drama every few months. We hope Republicans will join in enacting a long-term solution to the debt limit in December. We are ready to work with them,” added Senator Schumer.

Before passing the bill, lawmakers in Capitol Hill had been at odds for several days as Democrats pushed to raise the debt ceiling while Republicans opposed the proposal as they disagreed with President Joe Biden’s spending plans.

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