Business

House Passes Three-Month Debt Limit Extension

The U.S. House of Representative voted 285-144 on Wednesday to authorize a three-month increase in the nation’s debt limit, giving the U.S. Senate even more time to come up with a budget.

Included in the bill, dubbed “No Budget, No Pay,” is a provision that halts all paychecks to U.S. lawmakers’ if they fail to come up with a budget plan on time.

Shortly after the bill cleared the House, Senate Majority Leader Harry Reid (D-Nev.) assured members of the press that it would also pass the senate. Once the bill passes the senate, it will make its way to President Obama’s desk.

“The measure would suspend the $16.4 trillion cap on federal borrowing and reset it on May 19 to reflect the additional borrowing required between the date the bill becomes law and then,” the Associated Press notes.

“The amount of borrowing required depends on the tax receipts received during filing season, but over a comparable period last year the government ran deficits in the range of $150 billion,” the report adds.

House Republicans hailed the bill’s passage.

“Balancing the budget over the next 10 years means that we save the future for our kids and our grandkids,” said House Speaker John Boehner (R-Ohio). “It also means that we strengthen programs like Social Security and Medicare and Medicaid that can’t continue to exist in their current form without some kind of controls.”

However, not all House Republicans were for the bill. Among those who voted against it were Reps. Bachmann, Steve King, Broun, Yoho, Stockman, Amash, and Massie .

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Comments (65)

  • Tigress1
    Posted on January 23, 2013 at 2:21pm

    For once I agreed with Nancy Pelosi and Obama. Pelosi said that the deal where if the Senate doesn’t pass a budget they don’t get paid is just a gimmick.I agree. It is just a gimmick. The Senate should get FIRED if they don’t pass a budget! Most of us if we do not do our work do not simply forgo our paychecks until the work is completed – WE GET FIRED!

    Report this comment

    Tigress1  
    • termyt
      Posted on January 23, 2013 at 2:25pm

      It’s not even that much of a gimmick. They don’t lose their pay, it goes into escrow. They will eventually get every dime of it.

      Report this comment

      termyt  
    • Gold Coin & Economic News
      Posted on January 23, 2013 at 2:33pm

      Really you Republican wussies, you want to just kick the can down the road and go through this crap again in 3 months? You want Obama to tell Boehner again that we don’t have a spending problem? What the he** is wrong with you guys?
      http://www.isthatbaloney.com/stunning-obama-statement-to-boehner-we-dont-have-a-spending-problem/

      Report this comment

      Gold Coin & Economic News  
    • macpappy
      Posted on January 23, 2013 at 2:39pm

      You don’t fire the Senate, you vote them out. So, vote them out…..How did your Senator vote?

      Report this comment

      macpappy  
    • toiletclogga
      Posted on January 23, 2013 at 2:45pm

      It is a gimmick. The people in Congress have money coming out of their wazoo! If they were serious, it would be no government checks PERIOD! This would include Social Security, Disability and Welfare payments!

      Report this comment

      toiletclogga  
    • Cavallo
      Posted on January 23, 2013 at 2:51pm

      Doesn’t the Senate have to agree to this? Who says the pay thing isn’t simply stripped out in conference?

      Report this comment

      Cavallo  
    • soybomb315_II
      Posted on January 23, 2013 at 3:03pm

      Do you think the reason for them passing such a short extension is because they know this country could fall apart any day now?

      Report this comment

      soybomb315_II  
    • justangry
      Posted on January 23, 2013 at 3:08pm

      @Soy, Have you seen the vote yet? If so please link. I’d like to know how our favorite Republicans voted.

      Report this comment

      justangry  
    • Tigress1
      Posted on January 23, 2013 at 3:16pm

      Macpappy, Yes, we fire them through elections. How about a special election and fire them early? They obviously refuse to do the jobs that they were hired to do. Yeah, a special election might cost a lot, but we are losing BILLIONS of dollars every single day by their inaction! These people are making money in other ways besides simply their Senate job. Threatening them with their paycheck means nothing. Threatening them with losing their power might get their attention.

      Report this comment

      Tigress1  
    • marybethelizabeth
      Posted on January 23, 2013 at 3:20pm

      The gimmick is the lie that a budget hasn’t been passed. It’s not true that the senate hasn’t passed a budget in X number of years, x being a variable dependent on who is telling the lie.

      Report this comment

      marybethelizabeth  
    • soybomb315_II
      Posted on January 23, 2013 at 3:22pm

      @Just
      I cant find the vote breakdown. Only 33 republicans are reported to vote “no” on this thing. Ironically, 144 democrats voted ‘no”……which makes me wonder why so many republicans voted “yes”…..

      http://news.yahoo.com/debt-limit-extension-bill-moves-vote-house-165507643–business.html

      Report this comment

      soybomb315_II  
    • Rogue
      Posted on January 23, 2013 at 3:27pm

      In other news, hundreds of GOP reps simultaneously sprained their wrists trying to pat themselves on the back.

      3 month extension equals about, what, $250 Billion in new debt? Well done, GOP. I’d ask you to stand up and take a bow, but that requires a spine.

      Report this comment

      Rogue  
    • Strasser
      Posted on January 23, 2013 at 4:06pm

      Yes, they’ll get every dime even if they don’t pass a budget–thanks to the 27th Amendment. There’s even language in the bill stating precisely that.

      Report this comment

      Strasser  
  • thibx
    Posted on January 23, 2013 at 2:21pm

    watch oboma print new money on his on request and watch him spend it.

    Report this comment

    thibx  
  • SpankDaMonkey
    Posted on January 23, 2013 at 2:16pm

    .
    Chicken S^%#’s not a **** among them…………

    Report this comment

    SpankDaMonkey  
  • BehindTheMouth
    Posted on January 23, 2013 at 2:12pm

    Well guess I’m leaving the RINO party now.

    Report this comment

    BehindTheMouth  
    • soybomb315_II
      Posted on January 23, 2013 at 2:53pm

      What do you expect….The republican voters nominated a moderate flip-flopper and got chills up their legs from the guy who proposed balancing the budget in the next 15 years (Paul Ryan)…..If you were the republican establishment – all indications are that the situation is normal.

      Report this comment

      soybomb315_II  
  • shorelineliz
    Posted on January 23, 2013 at 2:08pm

    @Gonzo: Really? Did he say 10 years? If I don’t balance my budget every two weeks I tank! This Congress is out of control! Someone take the checkbook away! Oh, I forgot! There is NO MONEY in it! Bounce. Bounce. Bounce. (sound of Government checks being cashed). Fake money. Phony people.

    Report this comment

    shorelineliz  
  • progressiveslayer
    Posted on January 23, 2013 at 2:05pm

    The candy@sses in congress are so courageous eh? Let’s give a big round of applause for the idiots.
    They can’t demand real spending cuts because they’re too busy rearranging the chairs on the deck of the titanic.

    Report this comment

    progressiveslayer  
    • BODYBAG
      Posted on January 23, 2013 at 2:46pm

      Integrity is dead. As is Character.
      If not completely dead then certainly nearing extinction.

      As Mil-Dot has said here before —– the matter is now beyond the voting booth.
      Those who talk about changing things with “the next election” are living in fantasy land.
      The reset is going to be grusome. Be prepared.

      Report this comment

      BODYBAG  
  • shorelineliz
    Posted on January 23, 2013 at 2:05pm

    The only thing that just happened is they voted themselves and everyone else three more months of Government paychecks. These people are vacuous greedy idiots incapable of leading anyone. This is a joke.

    Report this comment

    shorelineliz  
  • Snowleopard {gallery of cat folks}
    Posted on January 23, 2013 at 2:04pm

    Here we go once again, I wonder what Reid and Obama will seek to gain from this in the long run goal they have for crushing the nation into communism?

    Report this comment

    Snowleopard {gallery of cat folks}  
  • term limits for congress
    Posted on January 23, 2013 at 2:02pm

    dirty harry will not allow a vote on this bill, so who cares? The senate will come up with their own debt limit increase without the hook and the house will pass it. dirty harry will never submit a budget because it will show all of the out-of-control spending that is happening and the budget will show a huge defecit. It is best for no one to know because it allows them to claim ignorance when the SHTF.

    Report this comment

    term limits for congress  
  • media-bias-steals-elections
    Posted on January 23, 2013 at 2:01pm

    If I was Clint Eastwood, I would make a public service announcement, just like President Obama, and say, take time to be a dad, make a budget? Maybe a couple of sentences of how interest rates could finance foreign armies and put TMZ fans in the DMZ zone?

    Don’t over do it with humor, make it simple, make it stick?

    Report this comment

    media-bias-steals-elections  
  • toiletclogga
    Posted on January 23, 2013 at 1:57pm

    News! The Senate has no intention of passing a budget. Budgets are a vehicle of restraint. Fiscal sanity is the enemy of the modern Democrat party!

    Report this comment

    toiletclogga  
  • Penn
    Posted on January 23, 2013 at 1:51pm

    Never before have so many been so screwed by so incompetent a group of govmint officals..

    Report this comment

    Penn  
    • BODYBAG
      Posted on January 23, 2013 at 2:02pm

      In a current country where people voice their true positions, then quickly issue public “apologies” because they are immediately vilified by the left —- Phil Mickleson is one of the latest examples —–

      I see the statement here and elsewhere “God Help Us”

      I tell you this —–
      If you are not willing to stand and defend your position in the face of adversity
      then why should God ?

      Report this comment

      BODYBAG  
    • Polarized America
      Posted on January 23, 2013 at 2:03pm

      i know,…..everyday i wake up and i’m a day older but when it comes to Gov’t, the Media etc. their getting younger …i’d say they’re about 13yrs old now …

      Report this comment

      Polarized America  
  • Witness1974
    Posted on January 23, 2013 at 1:47pm

    I wish I was a testicle salesman in D.C. They are in very short supply.

    Report this comment

    Witness1974  
    • hatchetjob
      Posted on January 23, 2013 at 1:50pm

      True, but testicles won’t work without testosterone. Sell some of that too.

      Report this comment

      hatchetjob  
    • hauschild
      Posted on January 23, 2013 at 2:53pm

      Yeah, but neither of those two things mean squat without a spine, so add that to the top of the list.

      Report this comment

      hauschild  
  • BUCKFECK
    Posted on January 23, 2013 at 1:46pm

    Typical selfish republicans want this country to crash just as long as it benefits them.

    Report this comment

    BUCKFECK  
    • Gonzo
      Posted on January 23, 2013 at 1:53pm

      Yea, no kidding. It’s not like $20 or $22 trillion of debt could ever cause the “country to crash”! Those whacky conservatives. Hey, let’s go watch the new Psy video and compare tattoos!

      Report this comment

      Gonzo  
  • Ghandi was a Republican
    Posted on January 23, 2013 at 1:46pm

    That’s good– When the budget comes due maybe people will pay attention. Including those that are on benefits, who will be getting benefit cuts because of obama rampant overspending and crony Capitalism gifts to his donors. Benefit money only gets cut BECAUSE OBAMA HAS AND CONTINUES TO SPEND IT ELSEWHERE – where it is not to be spent. That should be the core argument. Obama will day it’s foreign aid and wars- But they are HIS wars.

    Report this comment

    Ghandi was a Republican  
  • hauschild
    Posted on January 23, 2013 at 1:46pm

    This is getting downright comical; as the masses of lemmings continue to remain at the edge of their seats in anticipation.

    Report this comment

    hauschild  
  • Too_Far_Gone
    Posted on January 23, 2013 at 1:45pm

    They are just buying time to get things in place for themselves before islama pulls the plug at the bottom of the pool ..

    Report this comment

    Too_Far_Gone  
  • AvengerK
    Posted on January 23, 2013 at 1:43pm

    “giving the senate a little more time to come up with a budget”…LOL…now THAT’s comedy.

    Report this comment

    AvengerK  
  • gyro
    Posted on January 23, 2013 at 1:42pm

    was watching cnn this got 15 seconds of their time

    Report this comment

    gyro  
  • Carrie3570
    Posted on January 23, 2013 at 1:41pm

    “giving the U.S. Senate a little more time to come up with a budget.”

    HAHAHAHAHAHAHA!!!!! How much time do they need?

    Report this comment

    Carrie3570  
  • Al J Zira
    Posted on January 23, 2013 at 1:40pm

    Waiting for a budget from the Senate, one might be dead before that happens.

    Report this comment

    Al J Zira  
  • moreteaplease
    Posted on January 23, 2013 at 1:39pm

    “….giving the U.S. Senate a little more time to come up with a budget.”
    ————————————-
    ….or find a way around coming up with a budget.

    Report this comment

    moreteaplease  
  • civilwarcometh
    Posted on January 23, 2013 at 1:39pm

    We all new this was going to happen just as we all know what is going to happen in 3 month’s. Distraction’s from what is really going on. So tired of this BS.

    Report this comment

    civilwarcometh  
  • LOJ
    Posted on January 23, 2013 at 1:38pm

    Demand that the spending gets cut after a short extension….or we are on the road to financial collapse….Don’t allow this irresponsible open check book to continue that is taking us to Greece to continue without checks and balances…its vital.

    Report this comment

    LOJ  
  • justangry
    Posted on January 23, 2013 at 1:36pm

    Whew that was close. Maybe we can balance the budget in 3 mos… Sigh

    Report this comment

    justangry  
    • Gonzo
      Posted on January 23, 2013 at 1:45pm

      Hardee har har, even “fiscal hawk” Paul Ryan says we need 10 years to balance the budget. Wouldn’t every business you know of go belly up if it took 10 years to balance their budget?

      Report this comment

      Gonzo  

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