Senate OKs emergency debt limit bill

Posted Aug. 02, 2011, at 12:22 p.m.
Last modified Aug. 02, 2011, at 1:56 p.m.

WASHINGTON — The Senate has approved an emergency bill to avert a first-ever government default with just hours to spare.

The strong bipartisan vote was 74-26. The measure now heads to President Barack Obama for his signature. The legislation makes a down payment on taming out-of-control budget deficits.