House votes to permit $1.9 T more debt
By ConnPolitics.tv Editor on Feb 4, 2010 | In News, Washington D.C. - Congress | 10 feedbacks »
WASHINGTON (AP) – The House has approved a measure allowing the government to borrow $1.9 trillion to pay its bills.
The measure would raise the so-called debt limit to $14.3 trillion – more than $45,000 for every person living in the United States.
Democrats provided every “yes” vote in the 217-212 tally just as Republicans had to supply votes when they controlled Congress and the White House.
The massive increase in the debt is required because the government now has to borrow more than 40 cents of every dollar it spends because the recession has caused a slump in revenues at the same time spending has spiked.
Passage of the bill would send it to President Barack Obama, who will sign it to avoid a first-ever, market-rattling default on U.S. obligations.
10 comments
"Faced with a potential government shutdown, the Senate votes to raise the nation's debt limit for the fourth time in five years. The bill passed by a 52-48 vote, increasing the ceiling to $9 trillion. The bill now goes to the president.
The debt now stands at more than $8.2 trillion."
Oh, and who was president then? And who controlled congress? Republicans.
So, quite complaining about obama and democrats doing the same.
The democrats have to be replaced ASAP!
Can't wait for November!
"How to Bankrupt the USA"
"It's Not my Money, I Don't Have a Clue and I Just Don't Care"
"When the Country is in Financial Trouble Just Spend, Spend, Spend Then Tax, Tax, Tax!"
LOL
Barack Obama- Story of a One Term Presidency.
Joe Biden- How to cheat in Law and Politics
Obama- I am not a legal US Citizen.
Nancy Pelosi- How to be a NASTY bitch in Washington DC
Harry Reid- Why Nevada is kicking me to the curb in November !!
LOL
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