Congress Approves Bill to Raise Nation’s Debt Ceiling

Thursday January 31, 2013 8:25 PM - One Comment

congressCongress passed must-do legislation today to permit the government to borrow hundreds of billions of dollars more to meet its obligations, averting a first-ever government default that had loomed as early as mid-February.  

The 64-34 vote in the Democratic-controlled Senate sent the measure to President Obama, who has said he will sign it. The Republican-led House passed the legislation last week.

The legislation would temporarily suspend the $16.4 trillion limit on federal borrowing, which experts say would allow the government to borrow about $450 billion to meet interest payments and obligations like Social Security benefits and government salaries. Read more here.

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One Response to “Congress Approves Bill to Raise Nation’s Debt Ceiling”

1. Comment from tzipisa leyeshua
Time February 1, 2013 at 2:59 PM

spend as much as you want obama cuz the next president will clean up your debt and the next and the next and the next and the next and the next and the…

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