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Posts Tagged ‘more national debt’

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More spending and no spending cuts = more deficits and national debt = Greece!

From The Hill:

The House on Wednesday approved a bill extending the nation’s debt limit, raising pressure on the Senate to pass its first budget in nearly four years. The House approved the No Budget, No Pay Act, which also includes a measure withholding senators’ pay until they complete that work, in a 285-144 vote. Among Republicans, 33 voted against it to protest the absence of specific spending cuts alongside suspending the nation’s borrowing limit. But they were more than offset by the 86 Democrats who voted for the measure. The bill extends the debt ceiling through May 18, and requires each chamber to pass a budget by April 15 or have its members face a suspension of pay. Republicans are hoping the bill gives Congress a few months to find a longer-term debt-ceiling agreement that includes significant spending cuts.

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