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House rejects debt ceiling bill in ‘political charade’

Posted By admin On June 1, 2011 @ 2:53 am In U.S. News | Comments Disabled

AFP [1]
June 1, 2011

WASHINGTON — Lawmakers voted against raising the US borrowing cap without making cuts in spending, in a Republican ploy Democrats branded a “charade” unworthy of a vital economic issue.

The Treasury says that unless Congress votes to raise the $14.29 trillion debt ceiling by August 2, Washington could be forced to default on its obligations, in a move that would send shockwaves through the global economy.

Republicans, who won the House of Representatives last November amid a mood of steep anxiety over the ballooning size of government debt, will only back raising the debt limit in return for steep cuts in the deficit.

But they set up a vote on a bill they knew would lose — on raising the debt ceiling by $2.4 trillion without a corresponding trim in spending — to show they were serious about getting the budget shortfall under control.

Full article here [1]

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House rejects debt ceiling bill in ‘political charade’   260310banner2 [3]


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[1] AFP: http://www.rawstory.com/rs/2011/05/31/house-rejects-debt-ceiling-bill-in-political-charade/

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://purewaterfreedom.com/

[4] White House Defends Obama’s Senate Vote against Raising Debt Ceiling But Warns of Catastrophe If GOP Doesn’t Raise Debt Ceiling: http://www.prisonplanet.com/white-house-defends-obama%e2%80%99s-senate-vote-against-raising-debt-ceiling-but-warns-of-catastrophe-if-gop-doesn%e2%80%99t-raise-debt-ceiling.html

[5] White House Says Obama ‘Regrets Vote Against Raising Debt Ceiling in 2006, Calls It ‘Mistake’: http://www.prisonplanet.com/white-house-says-obama-%e2%80%98regrets-vote-against-raising-debt-ceiling-in-2006-calls-it-%e2%80%98mistake%e2%80%99.html

[6] US Debt Limit Fight Would Be ‘Catastrophic’: White House: http://www.prisonplanet.com/us-debt-limit-fight-would-be-catastrophic-white-house.html

[7] Debt Ceiling Tragicomedy Resumes: On Today’s Symbolic, And Doomed, $2.4 Trillion Debt Ceiling Vote: http://www.prisonplanet.com/debt-ceiling-tragicomedy-resumes-on-todays-symbolic-and-doomed-2-4-trillion-debt-ceiling-vote.html

[8] Senate Attempt To Block Debt Ceiling Increase Fails: Debt Target Is Now $15.2 Trillion, Or Over 100% Of GDP: http://www.prisonplanet.com/senate-attempt-to-block-debt-ceiling-increase-fails-debt-target-is-now-15-2-trillion-or-over-100-of-gdp.html

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