House To Vote On Raising Debt Ceiling
By: WROC-TV
Updated: January 23, 2013
The House is set to vote Wednesday to extend the nation's debt limit for another three months.
House Republicans are giving up demands for deep spending cuts in exchange for approving an increase to how much the government can borrow. The move keeps the U.S. from defaulting on its debt for the first time in American history. If approved, the bill would also require both chambers of Congress to pass a budget or the congressmen will not get paid.
House Republicans are giving up demands for deep spending cuts in exchange for approving an increase to how much the government can borrow. The move keeps the U.S. from defaulting on its debt for the first time in American history. If approved, the bill would also require both chambers of Congress to pass a budget or the congressmen will not get paid.
