facebook
twitter
rss
account
search
search
 

House passes $1.9 trillion debt limit hike

Feb. 4, 2010 at 7:10 PM   |   Comments

WASHINGTON, Feb. 4 (UPI) -- A $1.9 trillion increase in the U.S. debt limit squeaked through the House of Representatives on a party-line vote Thursday.

Democrats also passed a "pay-as-you-go" bill reinstating rules like those governing spending in the 1990s, Politico reported. That passed 233-187, while the increase in the debt limit, with 37 Democrats jumping ship, had a margin of five votes, 217-212.

The record hike increased the debt ceiling to $14.294 trillion, CNN Money reported. It is expected to allow the Treasury Department to continue to borrow for the rest of the year, allowing Democrats to avoid another controversial vote before the November elections.

Also Thursday, House Majority Leader Steny Hoyer, D-Md., said it is up to Republicans to decide whether they want to participate in a deficit-reduction commission. But Hoyer said President Obama will create a bipartisan commission with room for Republicans.

The last Democratic president, Bill Clinton, participated in a conference call with congressional leaders to push "pay-as-you-go." But some Democrats, like Rep. Rob Andrews of New Jersey, noted Clinton had the benefit of an economic boom.

"The best deficit-reduction plan is full employment," Andrews said.

Topics: Steny Hoyer
© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
U.S. Air Force orders more RQ-4 Global Hawks U.S. Air Force orders more RQ-4 Global Hawks
2
Kirsten Gillibrand: I don't know who called me 'porky' Kirsten Gillibrand: I don't know who called me 'porky'
3
Potential sites for Obama's presidential library and museum chosen Potential sites for Obama's presidential library and museum chosen
4
Official: U.S. hits Islamic State position near Baghdad; marking new phase in airstrikes Official: U.S. hits Islamic State position near Baghdad; marking new phase in airstrikes
5
Plane crash in Vinoy Park narrowly misses St. Pete condos Plane crash in Vinoy Park narrowly misses St. Pete condos
Trending News
Video
x
Feedback