(From the FT.com) The US Senate approved a $636bn military spending bill on Saturday that funds the wars in Iraq and Afghanistan and also includes money to extend jobless aid and Medicare payment rates for two months.

By a vote of 88-10, the Senate approved the bill and sent it to President Barack Obama to sign into law. The House of Representatives passed the bill on Wednesday.

The bill covers Pentagon operations through September 30, 2010. But the $128bn approved for ongoing wars probably will not be enough to cover Mr Obama’s plans to send 30,000 more troops to Afghanistan.

The spending bill represents a partial victory for Mr Obama and Defense Secretary Robert Gates, who had sought to eliminate unwanted weapons programs over the objections of lawmakers who see them as a source of skilled manufacturing jobs.

Read more here: US Senate approves $636bn military spending bill