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US Senate approves debt bill

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 raises the debt limit by up to $2.4tn (£1.5tn) from $14.3tn, and makes savings of at least $2.1tn in 10 years.

Senator Richard Durbin announced that the bill had been approved, with 74 votes in favour and 26 against.

  • 02 Aug 2011