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article imageDebt limit raised by House of Representatives

By Michael Bearak     Feb 4, 2010 in Politics
Thursday the House of Representatives voted to raise the debt limit by $1.9 trillion, pushing the ceiling to $14.3 trillion.
Thursday saw the House of Representatives either raise to a new high or sink to a new low as they voted to push the limit of debt the U.S. is carrying even higher. The vote by the House raised the United States' debt limit to $14.2 trillion, with the tacking on of $1.9 trillion more.
Through the last decade post September 11, 2001 saw a boom in the spending by both Bush and Obama administrations. In 2001 the debt of the United States was just $5.7 trillion.
The vote was close at 217-212, with the Republicans and 30 Democrats voted against raising the debt ceiling.
Increasing the debt ceiling was part of a broader bill that imposes a so-called "PAYGO" rules on the House. This means the house would have to pay for all tax cuts or programs it creates in order to keep the budget neutral.
More about Debt limit, Hike debt limit, House representatives
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