Debt Deal Sails Through Senate, Heads To Obama's Desk

The Senate voted easily on Tuesday to approve the last-minute debt deal agreed to over the weekend by President Obama and congressional leaders.

By a 74-26 vote, the upper chamber delivered the bill to Obama, less than twelve hours before the Treasury Department had warned it would no longer be able to borrow money to pay the federal government’s obligations.

Though the measure enjoyed broad support, 19 Republicans and seven Democrats voted against it.

In a statement following the vote, President Obama called the plan a “good first step,” but challenged lawmakers to do more to achieve savings and put people back to work when Congress reconvenes following its August recess.

“We can’t balance the budget on the backs of the very people who have borne the brunt of this recession,” Obama said. “We’ll need a balanced approach where everything is on the table.”