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US Senate votes to raise debt cap, reopen government


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US Senate votes to raise debt cap, reopen government

WASHINGTON: -- The Senate voted to raise the US debt limit ahead of a Thursday deadline and reopen the federal government, sending the legislation to the opposition-controlled House of Representatives for approval.


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-- The Nation 2013-10-17

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US Senate passes legislation to avert default, fund government and raise debt limit ceiling

WASHINGTON: -- The US Senate, racing to avert a government default, on Wednesday passed legislation raising the Treasury Department's borrowing authority and sent the measure to the House of Representatives for final passage.

The legislation also would end a partial government shutdown by providing new funds for federal agencies that have been closed since Oct. 1.

The US Senate approved a deal on Wednesday to end a political crisis that partially shut down the federal government and brought the world's biggest economy to the edge of a debt default that could have threatened financial calamity.

The Republican-controlled House of Representatives was expected to take up the measure later on Wednesday after Speaker John Boehner dropped the party's efforts to link the spending measure to changes in President Barack Obama's healthcare law.

The deal, however, offers only a temporary fix and does not resolve the fundamental issues of spending and deficits that divide Republicans and Democrats. It funds the government until Jan. 15 and raises the debt ceiling until Feb. 7, so Americans face the possibility of another government shutdown early next year.

Full stpry: http://voiceofrussia.com/news/2013_10_17/US-Senate-passes-legislation-to-avert-default-fund-government-and-raise-debt-limit-ceiling-6822/

-- THE VOICE OF RUSSIA 2013-10-17

Posted

Obama to sign budget-debt bill immediately after House acts

WASHINGTON: -- US President Barack Obama declared that he will sign the debt and budget agreement immediately after it arrives on his desk, which is expected to happen late Wednesday after a vote in the House of Representatives.


The agreement means the government, which has been partially closed for 16 days, will be ready to reopen immediately after his signature, Obama said. The long-sought breakthrough will "remove the threat of default from our economy."

Obama, speaking at the White House after the Senate passed the measure 81-18, declared his readiness to work with "anybody" - Democrat or Republican - on any idea "that will grow our economy." He thanked the leaders of both parties for "getting us to this point."

He said however there was "a lot of work ahead of us including our need to earn back the trust of the American people."

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-- The Nation 2013-10-17

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Posted

Posts have been deleted. This is not a continuation of the nonsense from a closed thread.

Stay on the topic of the raised debt cap and the OP.

Posted

Just out of interest... How many times did Bush v2 raise the debt ceiling and by how much? A dozen times and by 4T or was it more?

Out of control debt-fueled spending and raising the debt ceiling was not a good idea back then either. Perhaps the years right after 9-11 when we were getting on a war against the Taliban, but in the latter years, no not a good idea. When you find yourself in continuous cycles of spend and charge it, and your debt continues to grow and grow, the second-best time to stop it is now. Unless you have a time machine that we don't know about.

Since this topic is about raising the debt-ceiling, perhaps we should examine what our current president has had to say about raising the debt ceiling in the past and now. This is, with zero doubt, "On-Topic" !!!

post-152848-0-63826900-1381980058_thumb.

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No, this is only through the 7th of February when it will be back. It wasn't Boehner, but rather the Senate who caved, and brokered the deal after Senate majority leader Reid swore he wouldn't negotiate.

"The bill was the result of a deal brokered by Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell earlier Wednesday. It funds the government through Jan. 1 and suspends the nation's debt limit through Feb. 7." Link


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Posted

The outrageous spending - all across the board for Fed (and States) would be ludicrous, were it not so grave. There is so much gross waste and cheating in the system, it's hard to know where to start to comment on it. If some people who thought like me were in charge, Fed spending would come down by 30%.

I know, I know...

If people who thought like me were in charge, the world would be a perfect place....for me!tongue.png

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Posted

No, this is only through the 7th of February when it will be back. It wasn't Boehner, but rather the Senate who caved, and brokered the deal after Senate majority leader Reid swore he wouldn't negotiate.

"The bill was the result of a deal brokered by Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell earlier Wednesday. It funds the government through Jan. 1 and suspends the nation's debt limit through Feb. 7." Link

are you claiming this as a 'victory' for the republican party? honestly?

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Posted

At least one Republican Party member won out in this deal. The guy that led the Senate versions of the CR.

-----------------------------------------------------------------------------------

Mitch McConnell gets nearly $3 billion for Kentucky dam project in congressional deal
Eric Pfeiffer, Yahoo News By Eric Pfeiffer, Yahoo News
5 hours ago
.
Mitch McConnell's home state won nearly $3 billion in new funding for a long-standing project (AP)
Most experts agree that there were no real winners in the government shutdown debate. And many political forecasters say the brunt of fallout from the debate over the shutdown and the debt ceiling is likely to hurt Republican lawmakers.
However, the nation’s leading Republican senator came out of the deal far from empty handed. That’s because it’s been reported that Senate Republican leader Mitch McConnell secured language in the new government funding bill that includes nearly $3 billion for a dam project in his home state of Kentucky.
Article continues here: http://news.yahoo.com/congressional-deal-includes-nearly--3-billion-for-kentucky-dam-project-001012679.html
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Posted

There are 1191 days until the US Presidential Inauguration Friday January 20, 2017, when all of the country's fiscal woes can be solved.

Posted

The outrageous spending - all across the board for Fed (and States) would be ludicrous, were it not so grave. There is so much gross waste and cheating in the system, it's hard to know where to start to comment on it. If some people who thought like me were in charge, Fed spending would come down by 30%.

I am with you. I firmly believe they could do it. My deceased mother worked for the welfare system. she said a client with no identification could come in and claim benefits. All they had to do was bring some one in to verify they were who they said they were.

I would not be a bit surprised if that situation has been changed as it has been a long time.

But what I believe has gotten even worse was the fact that the money had to go through 19 levels of bureaucracy to get to the client. It would require a lot of government employment cutting.

I wonder if the Senate and the house would be willing to start the ball rolling with cutting some of their perks and ridicules retirement plans. Then go after there military. They spend more on it than the next five countries combined and are so insecure with all that protection that they make it hard for many foreigners to get a visa for a vacation there.

Here are the 2011 figures.

WORLD Gross Domestic Product Military Spending state GDP rank % GDP

mil rank Military spending WORLD $70,155,374,950,000 $2,157,172,000,000 United States $14,120,000,000,000 2 5.2% 17 $741,200,000,000 China $8,818,000,000,000 3 4.3% 23 $380,000,000,000 India $3,680,000,000,000 5 2.5% 62 $92,000,000,000 Russia $2,116,000,000,000 8 3.9% 27 $82,500,000,000 Saudi Arabia $590,900,000,000 23 10.0% 3 $59,090,000,000 France $2,094,000,000,000 9 2.6% 57 $54,444,000,000 United Kingdom $2,123,000,000,000 7 2.4% 63 $50,952,000,000

Posted

There are 1191 days until the US Presidential Inauguration Friday January 20, 2017, when all of the country's fiscal woes can be solved.

hillary clinton is going to immediately raise taxes, legalise all drugs and abolish the armed forces?

Hillary Clinton? Up-to-you.

Posted

Just out of interest... How many times did Bush v2 raise the debt ceiling and by how much? A dozen times and by 4T or was it more?

Not wishing to see another of your posts go to waste, let me see if I can provide the answer.

1. The debt ceiling under GWB was raised a total of 7 times, for an increase of $5.365 Trillion (From $5.95 Trillion to $11.315 Trillion)

2. The debt ceiling under Obama has now been raised a total of 6 times for an increase of $5.385 Trillion (From $11.315 Trillion to $16.7 Trillion)

3. This latest debt ceiling increase is the 7th time for the Obama administration to secure an increase but I have been unable to determine exactly what the new debt ceiling amount is now pegged at. Senator Reid initially wanted $1 Trillion, which if approved would raise the new debt ceiling to $17.7 Trillion.

Uhhhh, just for the record.

Bush was in office over an 8 year period. Obama has been in office for only four years and nine months.

Thirty nine more months to look forward to on this little problem.

  • Like 2
Posted

Perennial, universal problem for the civilised world.

A country makes money.

A country equitably distributes that money.

In the grand scheme of things I would adopt a Native American approach in favour of the emerging China approach.

UK, US, Europe. In the middle?

Christ knows what's going on in the Middle East.

We rent this place, we don't own it.

Wealth creation, equitable distribution, concern for the planet.

Anybody fancy a large Jack Daniels or a cup of Tea.

Good luck Mr Obama. Your lady is wise.

SP

Posted

Just out of interest... How many times did Bush v2 raise the debt ceiling and by how much? A dozen times and by 4T or was it more?

Not wishing to see another of your posts go to waste, let me see if I can provide the answer.

1. The debt ceiling under GWB was raised a total of 7 times, for an increase of $5.365 Trillion (From $5.95 Trillion to $11.315 Trillion)

2. The debt ceiling under Obama has now been raised a total of 6 times for an increase of $5.385 Trillion (From $11.315 Trillion to $16.7 Trillion)

3. This latest debt ceiling increase is the 7th time for the Obama administration to secure an increase but I have been unable to determine exactly what the new debt ceiling amount is now pegged at. Senator Reid initially wanted $1 Trillion, which if approved would raise the new debt ceiling to $17.7 Trillion.

Uhhhh, just for the record.

Bush was in office over an 8 year period. Obama has been in office for only four years and nine months.

Thirty nine more months to look forward to on this little problem.

Quoting myself to add forgotten link:

http://www.whitehouse.gov/omb/budget/Historicals/

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Posted
No, this is only through the 7th of February when it will be back. It wasn't Boehner, but rather the Senate who caved, and brokered the deal after Senate majority leader Reid swore he wouldn't negotiate.

"The bill was the result of a deal brokered by Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell earlier Wednesday. It funds the government through Jan. 1 and suspends the nation's debt limit through Feb. 7." Link

Eh, you're sure about that? "We fought the good fight; we just didn't win," Boehner told a radio station in his home state of Ohio.

I watched CNN this morning and pretty much every Republican was demoralized, admitting defeat. Not only did they lose this battle, their brand took a huge hit. Nevermind trying to win back the Senate, the Republicans will most likely lose majority in the House this coming primary. Time to turn out the lights at GOP headquarters.

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Posted

There are 1191 days until the US Presidential Inauguration Friday January 20, 2017, when all of the country's fiscal woes can be solved.

The future, Mr Gitts, the future.

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Posted

End of US shutdown: 'reaction of American people is very, very negative, and I understand this' - McCain

WASHINGTON: -- At the moment what US President Barack Obama was signing the legislation that ended the US government shutdown and raised the US debt ceiling, the Voice of Russia correspondent, Ludmila Chernova, was at Capitol Hill.

Republican senator John McCain, was there as well, speaking with the BBC about the future of the US economy after the Senate and Congress managed to reach a deal, and what the Republicans are going to do next.

What is your reaction at the end of the government shutdown?

Of course, relief that it’s over. It is kind of hard on us but, of course, not nearly as hard on us as it was on all the Americans who depended on our government – not just those who are government workers but those who work for government, contractors who will never be compensated for what they’ve lost. So, I’m very relieved, and all three – the President, the Democrats, and the Republicans – are now much lower in the public opinion, only Republicans are the most.

What does it tell us about your party? Because the biggest relief has been within the Republican Party. They’ve been divided and they’ve taken the nations to the brink.

What it means is that we are going to continue a debate within our party as to the correction of the party and how we should handle things first. And part of that debate is America’s role in the world. People want to live in a fortunate America, so there’s gonna be a spirit of debate in our party.

Full story: http://voiceofrussia.com/news/2013_10_17/End-of-US-shutdown-reaction-of-American-people-is-very-very-negative-and-I-understand-this-McCain-9360/

-- THE VOICE OF RUSSIA 2013-10-17
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