The threat of a technical default it gone. The problem is not the debt ceiling, it is the debt. This may end up making it worse.
"Treasury won an immediate reprieve of $400 billion in new borrowing authority Tuesday, as the Senate gave final approval to a hotly contested debt and deficit-reduction agreement hammered out with the White House Sunday night.
The bipartisan 74-26 roll call followed a 269-161 vote in the House Monday evening and the bill was quickly signed by President Barack Obama, ending an unprecedented, hard-edged political struggle that pushed the nation to the brink of default."