Senate passes debt ceiling bill
August 2nd, 2011
12:33 PM ET
3 years ago

Senate passes debt ceiling bill

(CNN) - The U.S. Senate passed legislation increasing the debt ceiling Tuesday in a 74-26 vote, sending it to President Barack Obama to be signed into law hours before the federal government would have faced a possible default.


Filed under: Debt • Deficit • Senate
soundoff (22 Responses)
  1. Fair is Fair

    It's a start.

    August 2, 2011 12:43 pm at 12:43 pm |
  2. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    Only in Washington DC is going into hock for $10 TRILLION instead of $12 TRILLION considered a "success". Our founding fathers are rolling over in their graves. Who in their right mind is going to fund our next $10 TRILLION in debt??? This problem has only been swept under the rug for a very short time. We'll be reliving this nightmare for a long long time.

    August 2, 2011 12:49 pm at 12:49 pm |
  3. gt

    now work on jobs..

    August 2, 2011 12:50 pm at 12:50 pm |
  4. GI Joe

    It kills jobs - corporations will still lay off workers and hoard their profits.

    August 2, 2011 12:54 pm at 12:54 pm |
  5. GI Joe

    The house went on 5 week vacation and left work undone (4000 in the air control business at LEAST will collect unemployment instead of a salary).

    August 2, 2011 12:55 pm at 12:55 pm |
  6. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    now work on jobs..
    ================
    It YOUR job to find a job! Everybody I know that lost their job found one BY LOOKING, with one exception. That person thoroughly enjoyed their two years of unemployment checks and had no interest in finding another job.

    August 2, 2011 12:59 pm at 12:59 pm |
  7. Anonymous

    How did each one vote?

    August 2, 2011 01:00 pm at 1:00 pm |
  8. They ought to change from the elephant to the hippo...

    Dear Mr. President,

    On behalf of fathers with daughters everywhere, please let your wife negotiate with your daughter regarding her first car. If you do it, she'll end up with a Ferrari rather than a Civic...

    August 2, 2011 01:01 pm at 1:01 pm |
  9. Jmk

    Who voted against ?

    August 2, 2011 01:01 pm at 1:01 pm |
  10. R

    @ gt
    "now work on jobs.."

    That would be nice. However, now that congress has finally done some work, both sides will go back into campaign-mode for next year...

    August 2, 2011 01:02 pm at 1:02 pm |
  11. B

    Great deal for all of the wealthy, terrible for everyone else!

    The rich and powerful continue to own everyones lives in this country.

    So much for all of the Obama "Tough talk Campaign rhetoric"

    You can’t make everyone happy, but you should stick to your – core principles or what is the point of it all ?

    August 2, 2011 01:02 pm at 1:02 pm |
  12. jay

    Our founding fathers had taxes at extremely high rates to pay for a war. Something we never did. Stop bringing them into the arguement cause you know nothing about them. All youtea party people preach Thomas Paine in one hand and a Bible in another-he was athiest Guy. You're worse than people on welfare except instead of hand outs you want ideologies your way or not at all.

    August 2, 2011 01:03 pm at 1:03 pm |
  13. Rudy NYC

    Only in Washington DC is going into hock for $10 TRILLION instead of $12 TRILLION considered a "success". Our founding fathers are rolling over in their graves. Who in their right mind is going to fund our next $10 TRILLION in debt??? This problem has only been swept under the rug for a very short time. We'll be reliving this nightmare for a long long time.
    --------------
    Good questions. Republicans figured out how to fund it during the GWB adminstration, and I suspect that they will figure out how to fund the next $10T, that plus another $10T in additional tax cuts. Then they will blame Democrats and entitlements for running up the deficit.

    August 2, 2011 01:03 pm at 1:03 pm |
  14. Sniffit

    "We are now entering a double dip recession, aka the Obama recession."

    There is absolutely zero evidence of that. Thanks for playing. Repeating talking points in the hopes that people will simply believe them is a coward's tactic.

    "We'll be reliving this nightmare for a long long time."

    Not once the Bush tax cuts expire and the GOP does enough election-strategy damage to the economy in the interim to finally ruin itself. While I tend to doubt it is true, I honestly hope you get to enjoy the tax increase that comes with the Bush tax cuts expiring...couldn't happen to a nicer fella.

    August 2, 2011 01:03 pm at 1:03 pm |
  15. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    Never fear. It will STILL be blamed on the Republicans and GWB. The left has nothing else.
    -----
    The left will continue to blame GWB and Republicans for as long as the right wing continues to blame Obama for the $1.5T deficit for FY2009. Conservatives love to say that Obama has added $4.5T to the deficit, a number which includes FY2009.
    If someone hands you a broken one-of-a-kind tool, is it fair for someone to blame you for having a broken tool, or having had broken the tool? No, but conservatives seem to have problem with blaming Obama for an annual deficit that he did not create
    =================================================================================================

    You're right Rudy, it wasn't Obama's fault. It was Reid and Pelosi's fault since they controlled Congress and spent the money.

    August 2, 2011 01:07 pm at 1:07 pm |
  16. CarolO

    Gez Obama. Nice job caving in again.

    August 2, 2011 01:08 pm at 1:08 pm |
  17. Sniffit

    "now work on jobs.."

    You do realize that the GOP has control of the House and has done everything possible to avoid that, right? Besides, not only are they out for recess, but there's another hostage to take in a couple months when the GOP gets to bring us back to revisit the "government shutdown festival" we had back in April...you know, since another contnuing resolution has to be passed to fund the gov't. It's beyond guaranteed that they will threaten to shut down the gov't in an attempt to extort more cuts, particualrly from 'entitlements,' and to generate uncertainty and fear in the economy and suppress the spending of government employees, who will tighten their spending in fear of being furloughed, thereby reducing demand and heling contract the economy. It's all very simple to them: Keep the crises on a 3-4 month repeating cycle so that the economy has no chance to recover and they can blame Obama for it. After Sept/Oct's repeat of the government shutdown festival, we get the debt ceiling Joint Committe circus and more threats and hostage taking from the GOP in Nov/Dec. What will they come up with for Feb/March? Watch what they fight for in terms of how long the continuing resolution should last. They will fight for only 6 months. Mark my words.

    August 2, 2011 01:09 pm at 1:09 pm |
  18. ConservaFASCISTS/Dutch, Bad Newz, VA

    Fair is Fair

    It's a start.
    --------------------–
    Yeah it is. Maybe we can get revenue next time in the deal. The terrorists teatards will be out the door in the next election.

    August 2, 2011 01:10 pm at 1:10 pm |
  19. jim

    I bought an american flag over the weekend – it was made in China

    August 2, 2011 01:20 pm at 1:20 pm |
  20. Indy

    We all knew there would come a day that Bush and Cheney's massive spending would come due and payable, just didnt think the little people would pay every cent of it while the rich get off scott free.

    August 2, 2011 01:28 pm at 1:28 pm |
  21. king

    last time when obama used a measly 800 billions for stimulous the repugs went buck wild, now they want to cut 1 trillion out of consumer pockets and expect them to have money to spend at our local businesses. i hope businesses who will see tremendous lost of customers have the back up to still keep their employees. i hope when this trilllion dollars dollar cut take place there wont be millions of people losing their jobs but in the thousands. because their aint no way in the world your going to cut 1 trilllion dollars out of a fragile economy and dont expect to lose millions of jobs. i hope you are satisfy now repugs, ohh i forgot they will blame obama for the way they let their lunatic right held this country hostage.

    August 2, 2011 01:46 pm at 1:46 pm |
  22. 100% ETH

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    August 2, 2011 02:14 pm at 2:14 pm |