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

WASHINGTON, Oct 16 (Reuters) - President Barack Obama quickly endorsed a Senate deal aimed at averting a U.S. debt default and ending a government shutdown on Wednesday and wants Congress to approve it swiftly, the White House said.

Spokesman Jay Carney, briefing reporters on Obama's reaction to the bipartisan Senate deal that emerged on Capitol Hill, said the agreement will reopen the government and remove the threat of a debt default.

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