Congress Passes Debt, Budget Deal

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from The Wall Street Journal,

Bill Reopens Government, Averts Default.

A potentially crippling U.S. debt default was averted late Wednesday, as Congress passed legislation to end a two-week political battle that had rattled financial markets, splintered the Republican Party and showcased Washington dysfunction.

The House voted 285-144 to reopen the government through Jan. 15, effectively suspend the debt ceiling through Feb. 7 and lay the groundwork for talks over broader budget issues. The Senate earlier approved the bill 81-18.

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