BOOOOOYAAAAAAA
7/12/2011 News Update
Senate Republicans offered a politically inspired fallback option to the debt ceiling impasse Tuesday, proposing three short-term increases in the amount the government can borrow while at the same time registering the disapproval of Congress for such a move.
The proposal would give President Barack Obama power to raise the debt ceiling, but also would require three congressional votes on the issue before the 2012 general election. Obama said Monday he would reject any short-term extension of the debt ceiling, as called for in the Senate Republican plan.
7/12/2011 News Update
Senate Republicans offered a politically inspired fallback option to the debt ceiling impasse Tuesday, proposing three short-term increases in the amount the government can borrow while at the same time registering the disapproval of Congress for such a move.
The proposal would give President Barack Obama power to raise the debt ceiling, but also would require three congressional votes on the issue before the 2012 general election. Obama said Monday he would reject any short-term extension of the debt ceiling, as called for in the Senate Republican plan.
