On Monday, February 4, the President of the USA Barack Obama signed the bill temporarily suspending the federal debt ceiling, Associated Press reports.
According to this document, the government is allowed to borrow to meet its needs until May 19. According to the experts’ estimates, the limit will be raised by 450 billion dollars. Now the governmental debt is fixed at 16.4 trillion dollars.
Earlier the draft law was approved by the Congress. The bill passed 285-144 in the House and 64-34 in the Senate.
The governmental debt of the USA will exceed the level of 16.4 trillion yet in February. The absence of this law would trigger the US technical default.
It was expected that the USA will reach its debt limit on December 31, 2012. However, the Ministry of Finance took emergency measures which helped to save about $200 billion and postpone the limit.
