Obama signs debt bill into law

Treasury won an immediate reprieve of $400 billion in new borrowing authority Tuesday, as the Senate gave final approval to a hotly contested debt and deficit-reduction agreement hammered out with the White House Sunday night.

The bipartisan 74-26 roll call followed a 269-161 vote in the House Monday evening and the bill was quickly signed by President Barack Obama, ending an unprecedented, hard-edged political struggle that pushed the nation to the brink of default.



Read more: http://www.politico.com/news/stories/0811/60503.html#ixzz1Ttw96hzD