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News Link • Economy - Economics USA

House passes Boehner’s debt ceiling plan–and Senate puts it on ice

• The Ticket
After a grinding week of negotiations in the House of Representatives, the chamber's GOP majority finally approved Speaker John Boehner's plan to increase the nation's $14.3 trillion debt ceiling just ahead of the the Aug. 2 deadline for its expiration. And in short order, the Democratic-led Senate voted to table the House-passed measure in favor of a proposal advanced by Senate majority Leader Harry Reid. The Senate's maneuver now sets up a House vote over the weekend on the Reid proposal--and a fresh round of battling in Congress.

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