Senate approves debt limit increase, sends it to Obama
August 2nd, 2011
11:01 AM ET
3 years ago

Senate approves debt limit increase, sends it to Obama

(Updated 12:35 p.m.)

Washington (CNN) - The U.S. Senate has passed a last-minute compromise plan to raise the nation's debt ceiling in exchange for spending cuts.

On a 74-26 vote, the Senate sent the bill to President Barack Obama's desk to be signed into law just hours before what would have been an unprecedented default.

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Filed under: Debt • Senate
soundoff (5 Responses)
  1. The Day of Financial Reckoning is HERE - The Great Democrat Welfare Society Ends

    All a smoke and mirrors farce. The country is STILL on a bee line trajectory to BANKRUPTCY. It will continue on that course unless Democrats are thrown out of the Senate en masse and the socialist is explled from the Whitehouse. We are now entering a double dip recession, aka the Obama recession. This clueless clowns have nearly destroyed our economy.

    August 2, 2011 12:00 pm at 12:00 pm |
  2. Ralph

    Shame on any elected Democrat for not standing up to the selfish Tea Party bullies.

    The Democratic party has surrendered OUR best chance to restore taxes to realistic levels and thereby have the necessary tools to repair the damage caused by 8 years of President GW Bush policies.

    Its very clear that the Tea Party extremists are engaging in Brinkmanship, ie, creating a crisis, and THEN refusing to cooperate in fixing it unless your pay their blackmail demands.

    The Democrats "compromise" reminds me of Richard Chamberlain's placation of Adolph Hitler.

    President Obama, VETO this legislation, and then use your authority under the 14th amendment to raise the debt limit. THEN address the other critical issues to repair the destruction that resulted from GW Bush.

    Their kicking the can down the road will only make the inevitable that much harder.

    The Tea Party and its supporters are mostly selfish. Don't realize they are assisting the rich Republicans exploitation of ALL of us!

    August 2, 2011 12:14 pm at 12:14 pm |
  3. Fair is Fair

    "We are now entering a double dip recession, aka the Obama recession."
    --------
    Never fear. It will STILL be blamed on the Republicans and GWB. The left has nothing else.

    August 2, 2011 12:19 pm at 12:19 pm |
  4. Name

    Look at Paul Ryan's biography. The guy has only a BA degree from Miami University and no significant financial or economics expirience. How can you trust a person like that with managing the entire country budget and telling others what to do? I woudn't even hire a person with such background to do my company's accounting.

    August 2, 2011 12:28 pm at 12:28 pm |
  5. Rudy NYC

    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.

    August 2, 2011 12:45 pm at 12:45 pm |