The new limit is $14.3 trillion, after the House voted for today's ceiling increase. Let's put $1.9 trillion into perspective: it took 211 years before the United States had a total accumulated national debt of $1.9 trillion, from 1776 until 1987. Now we will borrow that amount in the next 13 months.
I'm numb to the ignorance of Washington. For the Debtocrats, their fate is sealed. They committed political suicide today.
The story, including the vote breakdown by member, plus a 2-minute trailer from I.O.U.S.A. -- America the Bankrupt, is inside.
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Video: I.O.U.S.A. -- Film Trailer
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Video: Extended version
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From NBC's Luke Russert and Mark Murray
In two separate votes today, the House of Representatives passed legislation 1) raising the debt ceiling above $14 trillion and 2) establishing "pay as you go" rules that mandate that Congress find ways to pay for an additional spending.
The debt ceiling vote passed, 217-212, while PAYGO passed, 233-187. Not a single Republican voted for either measure.
Democrats broke up the debt ceiling vote to give vulnerable members a chance to say they were against the raising of the debt ceiling but later to say they were in favor of PAYGO. This legislation has already passed the Senate and will go to the desk of President Obama.
Interestingly, there were 24 House Democrats who voted for PAYGO but against raising the debt ceiling -- giving us an idea of the Dems who are certainly thinking about their re-election prospects in November.
See below for the names of the 24.
Adler (NJ)
Boccieri (OH)
Childers (MS)
Donnelly (IN)
Driehaus (OH)
Ellsworth (IN)
Foster (IL)
Halvorson (IL)
Hodes (NH)
Kirkpatrick (AZ)
Kissell (NC)
Kratovil (MD)
Markey (CO)
Massa (NY)
McIntyre (NC)
Murphy (NY)
Murphy (PA)
Owens (NY)
Perriello (VA)
Schauer (MI)
Space (OH)
Teague (NM)
Titus (NV)
Wu (OR)