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US House to vote on raising borrowing cap

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US House to vote on raising borrowing cap

Post by Jobless_in_Ma on Thu Jul 28, 2011 9:59 am

WASHINGTON — The U.S. House votes Thursday on a plan to avert an American default, but conservatives in the Republican-dominated lower chamber, Senate Democrats and President Barack Obama were all lined up against the measure.

Fears that the deadlock won't be broken pushed global stock markets down yet another day as investors worried that a dysfunctional Congress might remain gridlocked past the Tuesday deadline to raise the debt limit.

Without legislation in place by Tuesday, the Obama administration says the Treasury will not be able to pay all the nation's bills, possibly triggering a default that could prove catastrophic for an economy still recovering from the worst recession since the 1930s Great Depression. That would have major global consequences for the world's increasingly interconnected economies.

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Re: US House to vote on raising borrowing cap

Post by Guest on Thu Jul 28, 2011 10:22 am

53 Senators have stated they will vote against it if it gets past the House.


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Re: US House to vote on raising borrowing cap

Post by Guest on Thu Jul 28, 2011 10:31 am

WHIP LIST: Vote on Boehner debt plan will go down to the wire


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Re: US House to vote on raising borrowing cap

Post by TOO OLD TO HIRE IN PA on Thu Jul 28, 2011 5:56 pm

Another waste of time and taxpayer money on a vote they KNOW will not pass the Senate. And they talk of unnecessary spending? Cut their salaries and benefits because they don't earn it and they get 5 months vacation too? They say it is a working vacation because they meet their constituents. Yeah right! This is just another playground antic by Bonehead and his Tea Party members to stick it to the Democrats and tell the American people that they really did do something! Bullchit!


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Re: US House to vote on raising borrowing cap

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