"Senate passes debt ceiling bill, avoiding default and showcasing the power of centrism."

The US Senate has approved a debt deal that was agreed upon by the White House and Speaker Kevin McCarthy, avoiding a national default that would have been an economic disaster for the country. The agreement suspends the limit on how much the federal government can borrow until January 2025, which means the country won't be subjected to a debt limit fight again until after next year's presidential contest. The deal was approved by wide bipartisan margins in both chambers of Congress, but the road ahead will still be difficult as Congress must now agree on how to apply the spending limits included in the deal.