House approves GOP bill extending debt limit

House approves GOP bill extending debt limitWASHINGTON (AP) - Republicans have muscled legislation to extendthe government's borrowing authority and cutting spending throughthe House over solid

House approves GOP bill extending debt limit

WASHINGTON (AP) - Republicans have muscled legislation to extendthe government's borrowing authority and cutting spending throughthe House over solid Democratic opposition.

The 218-210 vote sets up a confrontation with theDemocratic-controlled Senate and President Barack Obama, who saythe GOP-written measure will die in the Senate. They say the billwould wreak economic havoc because it would force lawmakers to voteon another extension of the debt ceiling early next year, in theheat of presidential and congressional campaigns.

Administration officials say Congress must find a compromise toraise the debt ceiling by Tuesday or the government will run out ofcash to pay its bills. That could prompt an unprecedented federaldefault, which could rattle the economy with shocks such as higherinterest rates.

advertisement | advertise on News 12

Trending Video

VIDEO: NYPD officers in same precinct discover they 1 VIDEO: NYPD officers in same precinct discover they are sisters
News 12 the Bronx hit the streets to 2 Word on the Street: Paying for reserved parking
A 21-year-old woman died after being shot in 3 Man in custody in Tinton Ave. slaying
A pizzeria in Belmont that's been in the 4 Boogie Down Bites: Pugsley Pizza
VIDEO: Defense closing arguments in Mall at Short 5 VIDEO: Defense closing arguments in Mall at Short Hills murder trial

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE