Biden signs bill raising U.S. debt limit, averting default

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Economy3 minutes ago (Oct 14, 2021 08:21PM ET)

(C) Reuters. FILE PHOTO: U.S. President Joe Biden hosts a virtual coronavirus disease (COVID-19) Summit as part of the United Nations General Assembly (UNGA) from the White House in Washington, U.S., September 22, 2021.REUTERS/Evelyn Hockstein

WASHINGTON (Reuters) – U.S. President Joe Biden on Thursday signed legislation temporarily raising the government’s borrowing limit to $28.9 trillion, pushing off the deadline for debt default only until December.

Without the increase in the debt ceiling, the U.S. Treasury had estimated it would run out of money to pay the nation’s bills on Oct. 18.

Biden signs bill raising U.S. debt limit, averting default

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