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Tuesday, August 2, 2011

U.S. DEBT CRISIS: Debt Plan Clears Senate, Goes to Obama!


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BY COREY BOLES, MICHAEL R. CRITTENDEN AND KRISTINA PETERSON / http://online.wsj.com.

WASHINGTON—The Senate voted 74-26 Tuesday to approve sweeping legislation to raise the country's $14.29 trillion debt ceiling and cut the budget deficit by at least $2.1 trillion over the next decade, a major victory for Republicans who have long battled to shrink the size of the U.S. government.

With the vote, the Senate concluded an intense political fight that dominated the agenda of the president, senior congressional leaders, and Washington lobbyists for weeks.

Republican lawmakers who were opposed to the bill said it didn't do enough to tackle federal deficits, while the Democrats who voted no decried the package for ...




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