US House of Representatives passes debt bill

WASHINGTON  - The House of Representatives on Monday approved a last-gasp deal to raise the US borrowing limit in a decisive step toward averting a catastrophic debt default by the world's largest economy.
A day before the deadline to lift the debt ceiling, the passage by the Republican-controlled House of the $2.1 trillion deficit-cutting plan hammered out over the weekend cleared the way for the Senate to approve it.
The House vote of approval had been considered the biggest obstacle to a solution of the crisis.