Debt limit raised by House of Representatives

Posted Feb 4, 2010 by Michael Bearak
Thursday the House of Representatives voted to raise the debt limit by $1.9 trillion, pushing the ceiling to $14.3 trillion.
U.S. House of Representatives chamber
Empty chamber of the U.S. House of Representatives
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.