No More Debt Ceiling: Unlimited Spending Until March 15, 2015

boehner2_051012.jpg

The House of Representatives has removed the debt ceiling:

The measure approved by the House does not raise the debt limit by a set amount but does suspend it through March 15, 2015. That buys the Treasury Department the leeway it needs to borrow money to pay for Social Security checks, payments on government debt and paychecks for federal workers. 

If approved by the Senate, one of the most crucial issues for the 2014 election cycle will be off the table. There is no political solution to bankruptcy. This is how Liberty dies: with barely a whimper by the people as their chains are forged in debt. Do you understand why our founding fathers warned us about domestic enemies?

As of the time of this publication, the House Resolution was not given a number:  H.R. _____ .

Update:

Here is the list of  Republicans who voted for the clean debt limit increase:

House Speaker John Boehner (R-Ohio)
Rep. Dave Camp (R-Mich.)
Rep. Eric Cantor (R-Va.)
Rep. Darrell Issa (R-Calif.)
Rep. Peter King (R-N.Y.)
Rep. Ken Calvert (R-Calif.)
Rep. Howard Coble (R-N.C.)
Rep. Chris Collins (R-N.Y.)
Rep. Charlie Dent (R-Pa.)
Rep. Michael Fitzpatrick (R-Pa.)
Rep. Michael Grimm (N.Y.)
Rep. Doc Hastings (R-Wash.)
Rep. Frank LoBiondo (R-N.J.)
Rep. Kevin McCarthy (R-Calif.)
Rep. Buck McKeon (R-Calif.)
Rep. Patrick Meehan (R-Pa.)
Rep. Gary Miller (R-Calif.)
Rep. Devin Nunes (R-Calif.)
Rep. Dave Reichert (R-Wash.)
Rep. Hal Rogers (R-Ky.)
Rep. Peter Roskam (R-Ill.)
Rep. Ed Royce (R-Calif.)
Rep. Jon Runyan (R-N.J.)
Rep. John Shimkus (R-Ill.)
Rep. Chris Smith (R-N.J.)
Rep. David Valadao (R-Calif.)
Rep. Richard Hanna (R-N.Y.)
Rep. Frank Wolf (R-Va.)

What will it take for America to realize that there is only one party in Washington, D.C.?

David DeGerolamo

House approves increase in debt ceiling with no strings attached, bill heads to Senate

The House voted Tuesday to raise the government’s borrowing limit, as GOP leaders backed down from a potential confrontation with Democrats by declining to seek any concessions in exchange for the increase.

The debt-ceiling bill passed on a 221-201 vote, and now goes to the Senate for final approval.

The vote comes after Republican leaders backed off their strategy of trying to use the debt limit to force spending cuts or other concessions. In 2011, President Obama yielded to similar demands but has since said he would not negotiate with Republicans over the matter.

House Speaker John Boehner, R-Ohio, swiftly teed up the vote Tuesday after failing to get enough conservative support for a plan that would have tied the debt ceiling measure to one reversing cuts to military pensions. Another failed proposal had tied the debt cap hike to the Keystone pipeline.

More…

      
Plugin by: PHP Freelancer
This entry was posted in Editorial, Financial and tagged . Bookmark the permalink.