Harry Reid's plan extends the debt ceiling until March 2013. Historically, debt ceiling increases are only for 5 months.
(Reuters) — Senate Democratic Leader Harry Reid said on Friday his budget legislation would increase the nation’s borrowing authority until March, 2013 and reiterated that he would not accept a short-term debt limit increase as Republicans are insisting.
Earlier in the day, Reid called on Republican Leader Mitch McConnell to sit down with him to work out a compromise for cutting federal spending and raising the debt limit by the August 2 deadline.
McConnell has thus far thrown his support behind a House of Representatives Republican bill that has been refined and could be voted upon later in the day. Reid has vowed to defeat that bill, which would extend the debt limit for only a few months.
3 comments:
give me a break. how many times did the debt ceiling get raised under bush..7? is that 7 'blank checks' for bush too? what about the other 60 times it was raised?
propaganda and lies. The GOP are hypocrits.
anonymous, try and make sense not hateful name calling. we did not need the debt raised without a time limit. there are plenty hypocrits to go around. we need a voters revolution.l
anonymous-----you should not talk if you are talking about raising the limit more than 5 months. that is about the nomr not until after an election for political reasons
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