Date registered: Dec 2005
Location: United States
Mentioned: 3 Post(s)
Quoted: 397 Post(s)
Republicans Increase Debt Limit to $9 Trillion
Remember, it's only money...
Senate Votes to Raise Debt Limit
Thursday March 16, 2006 8:01 PM
By ANDREW TAYLOR
Associated Press Writer
WASHINGTON (AP) - Congress agreed to let the government borrow another $781 billion Thursday, allowing lawmakers and President Bush to pay for the war in Iraq and combat terrorism without raising taxes or cutting popular domestic programs.
The Senate, on a 52-48 vote, sent to President Bush a bill raising the ceiling on the national debt to nearly $9 trillion and preventing a first-ever default on U.S. Treasury notes. When the government reaches the new ceiling, expected sometime next year, the debt will represent $30,000 for every man, woman and child in the United States.