U.S. President Barack Obama. PHOTO/File
President Barack Obama has signed into law a bill raising the government's borrowing limit, averting a default and delaying the next clash over the nation's debt until later this year.
The legislation temporarily suspends the US$16.4 trillion limit on federal borrowing. Experts say that will allow the government to borrow about US$450 billion to meet interest payments and other obligations.
The Senate gave the bill final approval last week
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