Obama Signs Budget Bill Preventing Government Shutdown

US President Barack Obama has signed the new budget bill that will raise the US debt ceiling and avert the country's default, according to a press release issued by the White House on Monday.

WASHINGTON (Sputnik) — On Friday, the US Senate gave a final approval to the budget deal allowing the United States to avert a debt default by increasing the US federal borrowing limit, or the debt ceiling, through March 2017.

“11:50 a.m. the President signs H.R. 1314 — Bipartisan Budget Act of 2015,” the release said.

The White House and US congressional leaders came to a preliminary agreement on October 26 to provide $80 billion in sequester relief for two years to be equally divided between military and other public expenditures.

President Obama previously said the budget agreement would strengthen the US middle class because it included investment in education, job training, and basic research.