Debt Ceiling

House Votes for Three-Month Extension on Debt Limit

Kabuki theater continues


The GOP-controlled House voted 285 to 144 to comfortably pass a three-month extension in the government's borrowing authority just as Senate Democratic leaders suggested they would take up and pass the legislation as soon as they could.

The vote early Wednesday afternoon by the House would forestall a default on the national debt. The Treasury Department had warned that the government would exhaust its authority to borrow to finance its existing obligations by the middle of February.

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  1. You know, I have never thought of America as of a third world country, but now I do from time to time. The government should think about existing almost $17 trillion (please do not forget another $4trillion they have just borrowed). Something big has to be done. But actually, no matter how hard we try there are always a lot of greedy politician ready to make new tax laws for example. We should be expecting the next default any time soon. No fast payday loans will ever save an average citizen when it comes eventually.

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