64°
Baton Rouge, Louisiana
3 Day Outlook
Wed
82°
61°
10%
Thu
83°
66°
10%
Fri
85°
69°
30%

Latest Weather Blog

Follow our weather team on social media

House approves GOP bill extending debt limit

3 years ago Friday, July 29, 2011 3:39:45 PM CDT July 29, 2011 Friday, July 29 2011 Jul 29, 2011 in News
Source: Associated Press

WASHINGTON - Republicans have muscled legislation to extend the government's borrowing authority and cutting spending through the House over solid Democratic opposition.

The 218-210 vote sets up a confrontation with the Democratic-controlled Senate and President Barack Obama, who say the GOP-written measure will die in the Senate. They say the bill would wreak economic havoc because it would force lawmakers to vote on another extension of the debt ceiling early next year, in the
heat of presidential and congressional campaigns.

Administration officials say Congress must find a compromise to raise the debt ceiling by Tuesday or the government will run out of cash to pay its bills. That could prompt an unprecedented federal default, which could rattle the economy with shocks such as higher interest rates.

IMAGE: ABCNews.com

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Today
64°
60°
Wed
Partly Cloudy
82°
61°
Thu
Mostly Cloudy
83°
66°
Fri
Isolated T-Storms
85°
69°
Sat
PM T-Storms
88°
62°