The US Senate has approved Raising the National Debt Ceiling

The US Senate approved today by 63 to 36 votes the raising of the government debt ceiling, the Associated Press reported, quoted by BTA.

The agency notes that this comes just days before the deadline and allows the US to avoid a catastrophic default.

US President Joe Biden welcomed the increase in the debt ceiling approved by both houses of Congress, the agencies reported.

"This is a great victory for the economy and the people of the United States," the president said, adding that he would sign the final bill an hour later.

He noted that the previously reached agreements with the Republicans on raising the debt were compromises, but, in his words, they would allow his country to avoid falling into insolvency.

"Nobody gets what they want in negotiations," the American president stated.

Treasury Secretary Janet Yellen also welcomed the passage of the bill to raise the US debt ceiling and pointed out that if it had not been done, a possible US default would have put "millions of jobs and household savings at risk" in the amount of trillions of dollars.

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