Grudgingly, debt ceiling passed

For better or for worse, a raise in the debt ceiling was passed into law this afternoon after the House and Senate both grudgingly gave the deal enough votes to pass.

Next up, an end to tax loops for the rich and wide-sweeping cuts (which include the defense department) to fund the nation into 2013, so says Obama, though he doesn’t dare touch the big three — Medicare, Medicaid or Social Security.

In a press conference following the action, Obama called the measure — which will allow the nation to borrow more money rather than default — “an important first step to ensuring that we as a nation live within our means.”

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This entry was posted in By Allison Gatlin, Money, News, Politics. Bookmark the permalink.

3 Responses to Grudgingly, debt ceiling passed

  1. The lone reader says:

    It amazes me how Congress gets away with passing off their responsibility to 12 members that they then just give an up or down vote on what ever they suggest as they did in the debt ceiling law. It is proof that even Congress knows Congress is broken.

  2. Can crusher says:

    Satire Tuesday? Living within our means? That’s pretty good.

  3. Admin says:

    I agree. What’s the message there? That if we run out of money we make it so we can borrow more? Stellar thought process.

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