US Senate reaches deal on debt ceiling

A last-minute deal was reached by the United States Senate Wednesday to avoid a debt default and end the 16-day government shutdown. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell announced a raise of the debt ceiling through February 7 as well as funding to get the government moving again until mid-January. Reid called the deal a "historic bipartisan agreement." "The compromise we reached will provide our economy with the stability it desperately needs," he added. The deal must be voted on by both the Senate and the House of Representatives before midnight Wednesday