Jan. 17 (Bloomberg) — Bipartisan passage of a $1.1 trillion bill to finance the U.S. government through Sept. 30 clears the way for lawmakers to focus on the next potential fiscal showdown: Raising the federal debt ceiling.
Congress as soon as next month will be confronted with the need to increase borrowing authority, risking a repeat of the partisan discord that last year and in 2011 took the U.S. to the brink of default.
While it remains to be seen whether the cross-party cooperation will carry over to the debt limit debate, senators hailed yesterday's final passage of the $1.1 trillion spending bill as a breakthrough.
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