House GOP Debt Ceiling Vote Planned For Next Week

By |
Be Sociable, Share!
    • Google+

    House Republicans announced Friday they will agree to raise the nation’s debt ceiling for three months.

    The catch?

    Attached to the measure will be a provision that essentially forces the Democratic-led Senate to pass a budget — something it hasn’t done in four years,CNN reported.

    More from GlobalPost: As debt ceiling battle looms, Obama warns Congress against ‘dangerous game’ (VIDEO)

    If no budget is passed by April 15, members of Congress won’t get paid.

    “This is the first step to get on the right track, reduce our deficit and get focused on creating better living conditions for our families and children. It’s time to come together and get to work,” House Majority Leader Eric Cantor said in a statement provided to the Washington Post.

    The vote is a departure from the party’s usual hard-line stance on the debt ceiling, and represents a shift in strategy for House Speaker John Boehner, according to The New York Times.

    More from GlobalPost: Fitch threatens to downgrade US over debt

    In the past, Boehner tried to attach spending cuts that match the amount the debt ceiling would be increased, Politico reported.

    But that was 2011. This time around, President Barack Obama says he will not negotiate to lift the nation’s borrowing cap.

    “I’m not going to have a monthly or every-three-months conversation about whether or not we pay our bills,” Obama said. “Because that in and of itself does severe damage. Even the threat of default hurts our economy. It’s hurting our economy as we speak. We shouldn’t be having that debate.”

    This story was originally published by Global Post.

    Be Sociable, Share!


    Print This Story Print This Story
    You Might Also Like  
    This entry was posted in Economy, Nation, News and tagged , , , , , , , , . Bookmark the permalink.