Tags: US | Congress | Debt | Limit

Congress May Approve Short-Term Debt Limit Hike

Tuesday, 15 Dec 2009 11:35 AM

The No. 2 Democrat in the House says Congress will pass a two-month, $200 billion-plus increase in the government's ability to borrow as one of its final acts before closing shop for Christmas.

It's a change of plans for Democrats, who had hoped to enact a far larger increase of up to $1.9 trillion to avoid having to cast another unpopular vote to increase the debt limit before next year's midterm elections.

But Maryland Democrat Steny Hoyer said the two-month increase is all that can get through the notoriously slow-moving Senate before year's end. It would require another vote in February.

The Treasury Department has said that the borrowing limit must be increased before Dec. 31.

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The No. 2 Democrat in the House says Congress will pass a two-month, $200 billion-plus increase in the government's ability to borrow as one of its final acts before closing shop for Christmas.It's a change of plans for Democrats, who had hoped to enact a far larger...
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2009-35-15
Tuesday, 15 Dec 2009 11:35 AM
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