Washington (CNN) - The Democratic-controlled Senate passed legislation on Thursday extending the federal government's ability to borrow new money through mid-May, delaying a partisan standoff that some analysts warn could derail a fragile economic recovery.
The bill, which passed in a 64-34 vote, cleared the Republican-run House of Representatives last week. It now advances to President Obama's desk to be signed into law.
economic recovery BAHAHAHAHAHA
There is no ceiling for debt for the US government.
America continues to finance items off the books.
Obama an senate are running this country into the ground trying to tske our guns awaya nrun the healthcare system hell thy cant even figure out how to make it of the income we have an pay our countrys debt an raised our taxes an have hired hagel he is going to demolish our defense system. Thank you our fellow welfare takers an obama lovers; which we ? Who they R
keep kicking it down the road.... Our useless government is broken. They should all go home and stay home. why do they continue to collect pay checks and continue to get nothing done. NO ACCOUNTABILITY.
If we had elected anything, like say a potted plant or a cinder block, instead of any of the candidates that ran in 2008 and 2012, the economy would likely have straightened itself out. Instead, we elect, then re-elect a president lacking in leadership, realistic vision, and ability, and he brought with him the most corrupt, divisive, and inept administration in US history. Recovery averted.
It is inspiring to see our nation's great leaders tackling the difficult issues head-on, and not passing the buck or avoiding the tough decisions.
all this sounds vaguely familiar... how many years are we going to do this in a row?
The government screwed up Social Security, Medicare, Medicaid, AmTrak, the Post Office, Freddie Mac, and Ginni Mae and you wonder why the country cannot get back on track. You want things to prosper again in the US get rid of unnecessary government intrusion.
How can I be out of money when I still have checks?
So many Chicken Littles although Jonathon is one of a kind....
We are governed by the best politicians that money can buy............
Only one other country has this kind of statutory debt limit and they set theirs so high they never even get close to hitting. It's such a dumb idea. It's never done anything to reduce spending. All it does is give Congress something to bicker about before they raise it, which they always do. I'm all for fiscal responsibility, but this is not the way to make that happen.
What economic recovery????
Kick the can again. nothing will get done until 2014. Their mommies never taught them the value of deadlines and decisions. Look , if you cannot handle the job, then dont run or we will vote you out. Dummies
Republicans are the closest thing to being a communist without calling yourself one. They are useless
Don't spend what you don't have. Why can't Washington get it? 2014 is coming and we are making some big changes.
BALANCE THE BUDGET OR GO HOME.
Thanks Mr President for the new healthcare law though I wish we had gone to the public option.
Thanks Mr President for ending the war in Iraq which we should've never started in the first place.
Thanks Mr President for shoring up the border. Under your watch we have seen the least number of infiltrations and the largest number of border agents.
Thanks Mr President for the stimulus when the country was headed for destruction. No, you didn't get all you wanted because the Rethugs had to throw in another tax cut with the 750B so in essence, the stimulus to improve the economy was only around 550B.
I could go on, but you get the drift.
Congress needs to grow up.... seriously its not like they don't know these issues are coming and they wait to the last minute to put some half deal together. Not what I would call responsible for the level of governing they are suppose to be functioning in.
millionaires leave town or usa to start a new utopia for themselves and leave us the working democracy taxpayer in the garbage heap called a dump. time for revolution
When it comes to the politics on this item people don't seem to understand that our President has the GOP by the b*lls.
If the debt ceiling isn't increased, he'll simply let the automated spending cuts take effect, and since all "red" states (except Texas) are net-recipients, this would hurt the republican party the most.Please note that Texas does have a lot of military, and therefore will be effected even thought they are a net-contributor. For this reason, while they were in power, the republican party never has implemented any kind of spending cuts themselves either.
(Please refer to the IRS and Census websites if you need the research on this, or you can google and read the various reports of people that have already done this research).
money is just a number.. control guns and save the jobs in usa. our azz is getting kicked by china.
What a waste of time! All this time spent to control spending and the only result is that our Government extends its credit limit. Funny how private citizens cannot do the same.
President Barack Obama will let his jobs council expire this week without renewing its charter, winding down one source of input from the business community even as unemployment remains stubbornly high. Forward!
I can't imagine anyone is surprised by this. It was obvious long ago they can't fix this. This one won't go away by ignoring it, they can only hope to keep up the show as long as possible. It really appears that the only solution to complete financial fallout is conquest. It is way too late for budget cuts (we can't cut enough) and we have depleted much of our ability to produce except in financial services which is void of any real output whatsoever.