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Senate agree US debt bill

The US Senate has passed a bill to raise the debt ceiling and avoid a potential default. It will now be sent to the House of Representatives for a final vote. President Obama has said he will sign the bill "immediately" after the House vote.

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Senator Harry Reid: Finding consensus was 'really hard'

Senate Majority Leader Harry Reid has admitted that it was "really hard" to find political consensus on a deal to raise the debt ceiling.

Addressing the Senate before unveiling the terms of the deal, he said it was a "gross understatement" to say that the eyes of the world have been on the US Congress in recent days.

He added that the agreement would provide the stability that the economy desperately needs.

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