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Senate ups US government borrowing limit to $1.9T

Senate ups US government borrowing limit to $1.9T

The Democratic-controlled Senate has muscled through a plan to allow the U.S.government to go a whopping $1.9 trillion deeper in debt.
The party-line 60-40 vote Thursday was successful only because Republican Sen.-elect Scott Brown has yet to be seated. Sixty Democratic votes were required to approve the increase. The measure would lift the debt ceiling to $14.3 trillion. That is about $45,000 for every American.
Democrats had to scramble to approve the plan, which means they will not have to vote on another increase until after the November elections. To win the votes of moderate Democrats, President Barack Obama promised to appoint a special task force to come up with a plan to reduce the deficit. The House must still vote on the measure before it is sent to Obama for his signature.


Updated : 2020-12-04 13:33 GMT+08:00