Obama Signs Legislation Raising Federal Debt Ceiling
Obama Signs Legislation Raising Federal Debt Ceiling
Andrew Harrer/Bloomberg
President Barack Obama speaks about the passage of legislation to raise the federal debt ceiling in the Rose Garden of the White Houseon Aug. 2, 2011.
President Barack Obama speaks about the passage of legislation to raise the federal debt ceiling in the Rose Garden of the White Houseon Aug. 2, 2011. Photographer: Andrew Harrer/Bloomberg
Aug. 2 (Bloomberg) -- Edmund Phelps, a Nobel Prize-winning economist and professor at Columbia University, talks about U.S. consumer spending and the debt-limit compromise legislation negotiated in Washington. He speaks with Maryam Nemazee on Bloomberg Television's "The Pulse." (Source: Bloomberg)
(Corrects to remove reference to first-ever default.)
President Barack Obama signed a bill to raise the U.S. debt limit by at least $2.1 trillion, averting by hours a default by the government.
The president signed the measure at the White House after the Senate approved it today, ending weeks of partisan battles over raising the debt ceiling. The House passed it yesterday.
To contact the reporter on this story: Roger Runningen in Washington at rrunningen@bloomberg.net
To contact the editor responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net
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