Obama backs Senate debt deal, urges Congress to approve it swiftly -White House

Reuters

WASHINGTON, Oct 16 (Reuters) - President Barack Obamaquickly endorsed a Senate deal aimed at averting a U.S. debtdefault and ending a government shutdown on Wednesday and wantsCongress to approve it swiftly, the White House said.

Spokesman Jay Carney, briefing reporters on Obama's reactionto the bipartisan Senate deal that emerged on Capitol Hill, saidthe agreement will reopen the government and remove the threatof a debt default.

He said the United States is close to the point where theTreasury Department cannot borrow new money to meet its debtobligations, which is why Congress needs to move fast.

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