Congress approved a debt-limit compromise that prevents a U.S.default, sending the measure to President Barack Obama on the daythe Treasury had warned the nation's borrowing authority wouldexpire.

The Senate voted 74-26 for the measure, which raises thenation's debt ceiling until 2013 and threatens automatic spendingcuts to enforce $2.4 trillion in spending reductions over the next10 years. The House passed the plan yesterday.

Passage ends a months-long battle over spending that consumedCongress as lawmakers and the Obama administration negotiated tothe last days to avert a potential default. Still, the compromiselegislation defers decisions on the nation's finances to abipartisan panel of lawmakers and may reduce government deficitsonly modestly while slowing economic growth.