Obama signs debt ceiling bill, ends crisis
August 2nd, 2011
02:05 PM ET
3 years ago

Obama signs debt ceiling bill, ends crisis

Washington (CNN) - President Barack Obama signed a last-minute compromise plan to raise the nation's $14.3 trillion debt ceiling Tuesday afternoon, narrowly averting what could have been an unprecedented default with calamitous economic consequences.

The U.S. Senate passed the plan, which imposes sweeping new spending cuts over the next decade, shortly after noon ET. The bill was approved in a 74-26 vote; 60 votes were required for passage.

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Filed under: Debt • Deficit • President Obama
soundoff (14 Responses)
  1. We ALL Know, Mami

    No que no, Chingon?!

    August 2, 2011 02:08 pm at 2:08 pm |
  2. DC Insider

    Good job everyone! The fact that neither side is happy with the bill means we did the right thing. It is not a clear victory for either side. If this is the future of partisan politics, then I hope that neither side gets their way into the future.

    August 2, 2011 02:11 pm at 2:11 pm |
  3. Me

    Let your heads hang in shame! We have given in to the demands of fiscal terrorists.
    -should have never extended the Bush taxcuts
    -should never deal with GOtP
    They are out to destroy you at all costs including The national credit rating
    You must destroy them the way they intend to destroy you!

    August 2, 2011 02:16 pm at 2:16 pm |
  4. sonny chapman

    It's hard to play, "Let's Blow Up the Govt." when you know it's the little guy who will get hurt the most.

    August 2, 2011 02:18 pm at 2:18 pm |
  5. king

    i dont know this austary crap in a down swing, i just dont know. consumers need confidence that they are going to get money somewhere or they wont spend their last. and if this threat of taking away a trillion dollars out of their pockets that going to be tough to go out their and spend money and create demand.

    August 2, 2011 02:24 pm at 2:24 pm |
  6. Ashera

    No Way! Do not sign IT!

    August 2, 2011 02:27 pm at 2:27 pm |
  7. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    The U.S. Senate passed the plan, which imposes sweeping new spending cuts over the next decade,
    ==================================================================================
    Oh honestly, enough of the hype. Had they balanced the budget, then this would be accurate. They took a glass of spending out of an ocean of spending and debt. Hardly "sweeping"!

    August 2, 2011 02:28 pm at 2:28 pm |
  8. Dean

    Idiots! This is only the beginning of the crisis.

    August 2, 2011 02:45 pm at 2:45 pm |
  9. Howard

    CNN HEADLINE:
    Obama ends debt crisis.
    YEAH ... the crisis he created !!!

    August 2, 2011 02:50 pm at 2:50 pm |
  10. Norman L. Pettigrew

    President Obama has demonstrated Parliamentary adroitness and political savoir-faire by rescuing "Bonehead " Boehner from his Tea Party extremists in an agreement that degenerates into an empty gesture. The "Super-Committee" MUST submit REVENUE bills to the SENATE for an up/down vote without debate... This is an end-run around the Tea Party blockers who Stupidly have not read the Constitution they claim to uphold, adore and serve. President Obama is brilliant! The right-wing Supreme Court has no choice but to declare the Super Committee part of the Debt Ceiling legislation UNCONSTITIONAL. All revenue bills MUST originate in the House of Representatives. BRILLIANT! Isn't he? ISN'T HE?

    August 2, 2011 02:56 pm at 2:56 pm |
  11. WTF?

    When you run on The Democrats platform and in act Republicans laws you get low polls numbers. Pres. Obama has to stop waiting for a fight. He has to go out and pick a fight about jobs. Or we will be talking about the debt for the next six months.

    August 2, 2011 03:07 pm at 3:07 pm |
  12. Bill

    Don,t worry Mr.President, The incumbents are 1 and Out! I as a TaxPaying American, see a Dem Landslide in 2012. Thanks again for "Sticking up for working class Americans. Nancy Polosi,Gabby Giffords,Ried, Vice President Bidin,thanks for Saving Americas Reputation. Although, Teaparty has done Great Damage already. Obama 2012

    August 2, 2011 03:11 pm at 3:11 pm |
  13. RB

    I have yet to understand why the Republicans are not held accountable for their two wars. The tea party doesn't seem to mind spending money on pointless wars, but god forbid we give medical benefits to the sick.

    August 2, 2011 03:23 pm at 3:23 pm |
  14. The Greedy Old Pigs have declared class war on US!

    "Obama signs debt ceiling bill, ends manufactured crisis"

    There, FIFY, CNN.

    August 2, 2011 03:26 pm at 3:26 pm |