Obama signs bill to end shutdown, avoid debt default

October 17, 2013 11:02

US President Barack Obama early today morning signed a bill into law to end a disruptive 16-day government shutdown and increase the current debt ceiling of $16.7 trillion to prevent the country from a debt default with potentially worldwide economic repercussions.

Obama signed into law the 'Continuing Appropriations Act, 2014,' which provides fiscal year 2014 appropriations for projects and activities of the Federal Government through Wednesday, January 15, 2014, White House Press Secretary Jay Carney said in a statement.

The US Congress earlier approved an 11th-hour deal to end a partial government shutdown and pull the world's biggest economy back from the brink of a historic debt default that could have triggered a financial calamity

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