DEBT CEILING - Senate Approves $500 Billion Increase In Borrowing Authority
The U.S. Senate, in an unusual procedure, cleared the way Thursday for the U.S. to lift its borrowing authority by $500 billion to $15.19 trillion, enough to keep the support federal government borrowing through late January or early February.
The action came under an unusual legislative procedure spelled out under the August agreement to raise the U.S. debt ceiling and avoid a U.S. credit default. In a 52-45 vote, the Senate blocked an attempt by Republicans to slow down the process that will result in the $500 billion debt-ceiling increase.
The increase stems from a deal between Congress and the White House, finalized last month, that spells out how the borrowing limit would be increased by $500 billion. Under the process, lawmakers in both the House and Senate must vote on a resolution of disapproval against the increase in the borrowing limit. President Barack Obama would then have to veto the resolution of disapproval, and Congress would then vote to try and override that veto.
Reader Comments (12)
http://www.zerohedge.com/contributed/more-solyndra-%E2%80%93-next-move
http://democrats.energycommerce.house.gov/sites/default/files/image_uploads/Letter_Solyndra_07.13.11.pdf
Lincoln did not join the Republicans until 1856, over two years after the party was founded. The first Republican convention was held in Ripon, Wisconsin in 1854.
Such a gaffe would have brought huge amounts of ridicule and derision on George W. Bush, but in the case of Obama the media yawned.
Actually, they did more than yawn; government-funded PBS has altered the transcript of the President's speech, removing the offending comment.
http://www.americanthinker.com/blog/2011/09/pbs_alters_transcript_to_hide_obama_gaffe.html
I believe we've gotten numb to "STUPID" coming from the mouths of all our WONDERFUL GOVERNMENT OFFICIALS.
It's more like, Dear God, please don't let anyone know that my office is located literally next door to the EEOC in the federal building on the Strip. And it would be kind if you don't allow people to know, even the representatives that I refuse any and all office visits and that it is my policy because I'm afraid of people. Oh!... and please for the love of money and my son who is running for NV governor all the time, Don't allow people to know that I got the two biggest gaming corporations to get together for massive bussing of all strip employees to vote for me instead of Sharon Angle. Last, and I swear that I'll be good from now on if you would please consider keeping just this generation of casino workers involved silent so I don't have to pay fines and go to club Fed.
Or I could be wrong.
It's only about POLITICS OF FEAR.
the fed can just print it behind closed doors and add it to the other $250 TRILLION debt they hold.
Yup, please let it happen Fast, the American People know what I've done to them.