Tuesday, August 2, 2011

Senate Votes 74-26 To Approve Bill Raising Debt Limit, Cutting US Deficits

Corey Boles, Michael R. Crittenden and Kristina Peterson

The U.S. Senate on Tuesday 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 for the president, senior congressional leaders, and Washington lobbyists for weeks. The Republican lawmakers were opposed because they said it didn't do enough to tackle federal deficits, while the Democrats who voted no decried the package for gutting federal programs that fund education and safety net programs for the poor and elderly.
The Senate action sends the bill to the White House for President Barack Obama's signature, just hours before a deadline to avert the U.S. government running out of money to pay its bills. .....

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