Thursday, June 2, 2011

House Rejects Unconditional Debt Ceiling Hike

The House overwhelmingly voted down an unconditional increase to the $14.3 trillion debt limit Tuesday, as the Republican majority delivered a symbolic rebuke to President Obama ahead of a meeting at the White House.

The vote was 318-97, with 82 Democrats joining every Republican in rejecting legislation that would have authorized $2.4 trillion in additional borrowing by the federal government. Seven Democrats voted present on the legislation.

House Republicans scheduled the vote, which occurred after the close of the American markets, to demonstrate to Senate Democrats and the White House that Congress would not increase the debt limit without significant spending cuts and reforms.

The lopsided result was...

Related Topics: budget


mavericks justin bieber and selena gomez fisher investments

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.