Media playback is unsupported on your device

US Senate passes bill to raise debt ceiling

2 August 2011 Last updated at 19:43 BST

The US Senate has passed a deal struck between Republicans, Democrats and President Barack Obama to increase the US debt ceiling and avert a default.

The bill passed the Senate by 74 votes to 26. President Barack Obama has signed the bill into law.

The deal comes after months of negotiations between the Democrats and Republicans.

Mark Mardell reports.