–Senate Rejects Motion to Disapprove of Debt Hike on 52-44 Vote
–Senate Vote Will Allow Final $1.2 Trillion Hike From August Deal
By John Shaw
WASHINGTON (MNI) – The Senate rejected Thursday a Republican effort
to disapprove of the final installment of last year’s debt ceiling
agreement, that raises the debt limit by $1.2 trillion and pushing
further debate beyond the presidential campaign season.
The GOP bid to pass the disapproval motion was defeated, 52 to 44,
on a nearly party line vote. The net affect of Senate vote will be to
allow for the final $1.2 trillion tranche of last summer’s debt ceiling
increase to go forward Friday.
Last week, the House passed the disapproval resolution, as it did
last fall. But this resolution failed Thursday in the Senate, as it also
did last fall. Even if the disapproval resolution had passed in the
Senate, President Barack Obama certainly would have vetoed it.
The disapproval voting process was suggested last summer by Senate
Minority Leader Mitch McConnell as a way to allow congressional
Republicans to express their displeasure with increasing the debt
ceiling without actually blocking the increase.
Now that the final $1.2 trillion debt ceiling increase will go
forward, Congress is not expected to have to deal with the debt ceiling
again until after the November elections.
During the Senate debate Thursday, Republicans said the need for
another increase in the debt ceiling reflected the failed policies of
President Obama.
“Washington needs to start spending less than it takes in,”
McConnell said.
McConnell said the vote would send a “simple message to the White
House: no more blank checks.”
Senate Finance Committee Chairman Max Baucus said the vote to
increase the debt ceiling simply allowed the U.S. to “pay the bills that
have already been incurred.”
He said a vote to block the final tranche of the debt ceiling
increase would serve to “reverse” the August debt ceiling agreement.
** Market News International Washington Bureau: (202) 371-2121 **
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