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Obama signs US debt ceiling measure into law

 

RANCHO MIRAGE, California - US President Barack Obama has signed a bill lifting the US debt limit, which frees the government to borrow the money it needs to pay bills, such as Social Security benefits and federal salaries.

 

Failure to pass the measure, which the Senate passed 67-31 earlier this week and sent to Obama for his signature, most likely would have sent the stock market into a nosedive. (AP)