U.S. President Barack Obama signs the Budget Control Act of 2011 in the Oval Office at the White House in Washington
U.S. President Barack Obama signs the Budget Control Act of 2011 in the Oval Office at the White House in Washington, August 2, 2011. U.S. Senate approval on a 74 to 26 vote of the $2.1 trillion deficit-reduction plan, already passed on Monday by the Republican-controlled House of Representatives, drove away the immediate specter of a catastrophic U.S. debt default. President Barack Obama immediately signed the bill into law, lifting the government’s $14.3 trillion debt ceiling hours before a Tuesday midnight deadline. But the rancorous debt and deficit battle between his Democrats and their Republican rivals left Obama politically bruised as he heads into a campaign for a second term in 2012. REUTERS/Pete Souza/The White House/Handout (UNITED STATES – Tags: POLITICS BUSINESS IMAGES OF THE DAY) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS
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