Arab Today, arab today us debt ceiling hike clears house heads to senate
Last Updated : GMT 07:01:47
Arab Today, arab today
Arab Today, arab today

US debt ceiling hike clears house, heads to senate

Arab Today, arab today

Arab Today, arab today US debt ceiling hike clears house, heads to senate

Washington - AFP

US Republicans capitulated to President Barack Obama's call to extend the nation's borrowing authority with no strings attached, dialing back the threat of an election-year fiscal showdown.The House of Representatives narrowly approved a measure to suspend the US debt ceiling until March 2015. It now moves to the Senate, which will begin debating the bill Wednesday. A drama-free extension of borrowing authority without other conditions would mark a shift away from recent confrontations that brought the world's largest economy to the brink of default, culminating in the US government being shuttered for 16 days last October.It could also avoid the turmoil that rocked US and international markets during the previous debt limit fights.House Speaker John Boehner, unable to gain sufficient support from his fractured party for a plan he unveiled Monday that would have tied the debt limit to a revision of military pension benefits, introduced the debt ceiling bill knowing it would need support from nearly all Democrats. The legislation passed by 221 votes to 201, a clear victory for Obama in the wake of the shutdown that Americans blamed largely on Republicans.Boehner said it was "a lost opportunity" to work together to find cuts and reforms equal to the increase in the debt limit. But when his earlier plan collapsed he offered a debt ceiling hike with no accompanying legislation, violating his own principle, put forward in 2011, that extension of borrowing authority be accompanied with federal spending cuts in equal measure.Vice President Joe Biden said Boehner's stand-down was "a victory for the country," while the White House called the vote "a positive step in moving away from the political brinkmanship that's a needless drag on our economy."Boehner said Obama was clearly "the one driving up the debt," currently at $17.3 trillion, and that the president will be forced to own it as lawmakers gear up for campaign season ahead of November's mid-term elections."Only in Washington would the solution to a $17 trillion national debt be an increase in our borrowing limit," frustrated House Republican Jason Smith said.The measure now heads to the Senate. Legislation there can bog down in procedural votes, and a delay would risk the government's ability to pay all of its bills.Top Senate Republican Mitch McConnell was silent on whether his members would seek to force a 60-vote threshold to advance the measure in the 100-seat body. That would require Republicans to join Democrats to move the bill forward."We'll see how it plays out," McConnell said.Senator Roy Blunt was one of several Republicans prepared to vote no."Increasing the debt ceiling without changing behavior is not a good idea," he said.Meanwhile US stocks added more than one percent Tuesday, supported both by the Boehner announcement and Federal Reserve chief Janet Yellen's comments on monetary policy in her first congressional testimony in her new role.The White House has insisted for weeks that raising the debt ceiling was non-negotiable, and it did not want to see policy riders attached. But Boehner stressed that Democratic Minority Leader Nancy Pelosi would need to rally her own troops to get a borrowing authority extension through the House.She pulled through, with just two Democrats voting no. Twenty-eight Republicans, including Boehner, voted for the bill."The full faith & credit of US should never be in jeopardy," Pelosi tweeted after the vote.Lawmakers have little wiggle room. Congress is scheduled for a recess next week, leaving precious few legislative days until February 27 when the US Treasury estimates it will exhaust existing borrowing capacity.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us debt ceiling hike clears house heads to senate Arab Today, arab today us debt ceiling hike clears house heads to senate

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us debt ceiling hike clears house heads to senate Arab Today, arab today us debt ceiling hike clears house heads to senate

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel, Germany submarine deal advances

GMT 05:45 2017 Saturday ,21 October

Israel, Germany submarine deal advances
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday