US Senate approves increase of state debt

The US Senate has declined a rejection by Congress of an increase of the state debt to $16.39 trillion, RIA Novosti reports.

President Barack Obama requested an increase by $1.2 trillion on January 13, as part of the agreement reached between his administration and parliament in August 2011. But the House of Representatives declined his request.

54 senators voted for and 44 against blocking the house’s decision after two hours of talks. According to forecasts, the new limit for the state debt should be enough until the presidential elections in November 2012.