Breaking: House passes bill to defuse debt ceiling
January 23rd, 2013
01:28 PM ET
1 year ago

Breaking: House passes bill to defuse debt ceiling

New York (CNNMoney) - The House on Wednesday passed the "No Budget, No Pay Act," a Republican bill that would effectively defuse the debt ceiling threat for several months.

The bill would let the Treasury Department borrow new money until mid-May. In exchange, the legislation would require lawmakers in both chambers of Congress to pass a budget resolution or have their pay withheld until they do.

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Filed under: CNNMoney.com • Debt • Deficit • House
soundoff (55 Responses)
  1. Donna

    Rudy NYC - The biggest problem is DC right now is that you have an entire political party hell bent on not ever compromising.
    -----–

    I agree. The Democrats and Obama need to knock it off and compromise. Republicans were elected to office as well.

    January 23, 2013 02:46 pm at 2:46 pm |
  2. Sniffit

    ""It wasn't Republicians that ruined the country. They barely had any power the last 75 years."

    All it took was 8.
    ***********************
    He's convinced the Left ...."

    To be fair, I should give them more credit. They had passed all of the Bush tax cuts and started both unfunded wars by 2003, so it really only took them 3 or so years to set us up for the deficits and debt that are now causing such problmes....and which they really intentionally created so they would have the deficit and debt problems later as their justification for demanding the evisceration of SS and Medicare/caid.

    January 23, 2013 02:48 pm at 2:48 pm |
  3. Rudy NYC

    Fair is Fair wrote:

    Bring it to the floor and vote it down then. Unless there's a reason they don't want to be on record...
    -------------------–
    Never heard of the silent filibuster, have you? Republicans want to keep it, while Democrats want to get rid of it.

    January 23, 2013 02:54 pm at 2:54 pm |
  4. Squigman

    It would be nice to see some of the financial papers, generated by some of these (so called), conservative posters. They harp about debt. They harp about balancing the national budget. They complain about every damned thing under the sun, unless it's spewed forth by one of their hate radio jocks. But more than likely their own house built of glass would shatter under magnification. It's a good bet their checkbooks look like pigs ran through the pages. There's over compensation going on somewhere to give brilliance where none exists.

    January 23, 2013 03:00 pm at 3:00 pm |
  5. Rudy NYC

    Donna wrote:

    I agree. The Democrats and Obama need to knock it off and compromise. Republicans were elected to office as well.
    ----------------
    I guess you missed the interview with John Boehner in late 2011 where he denied that the word "compromise" is even in his vocabulary. I guess you missed the sound bite of that one House Tea Party freshman declaring that "compromise" means the other side totally caving in to his will.

    In fact, I guess you completely and totally missed the part when Pres. Obama and the Democrats actually extended the Bush Tax Cuts. You also seem to have missed out on the Budget Control Act, too, which cut spending a trillion dollars without any new revenue.

    Finally, I guess you have not yet caught on to the fact that most right wing media cherry pick the facts, and others create their own facts.

    January 23, 2013 03:01 pm at 3:01 pm |
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