Tuesday, August 2, 2011

Democrats To Swallow 'Satan Sandwich'

Paul Kane & Lori Montgomery

WASHINGTON: A plan to lift America's debt limit and reduce government spending has cleared a hurdle in the House of Representatives and was expected to clear the Senate early today Sydney time, as recalcitrant Republicans and disappointed Democrats rallied around a measure to avert a government default.
With Senate approval all but certain, the 269-161 vote in the House ended a stalemate that threatened to destabilise global markets and undermine the sputtering economic recovery.
The Senate vote was set for noon yesterday (2am today Sydney time). Approval would send the measure to President Barack Obama and immediately grant the Treasury $US400 billion ($363 billion) in additional borrowing authority.....

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