Moderate Moment | Moderate Moms

Debt Fact Sheet

The Senate passed the debt ceiling bill by a vote of 74 to 26.  Seven Democrats voted no as did 19 Republicans.  The House approved a compromise bi-partisan bill Monday evening by a vote of 269-161.  The measure would 1) Allow the government to raise the limit on the amount of money it can borrow by up to 2.4 trillion dollars 2) force 900 billion in cuts over 10 years 3) lead to automatic cuts split between domestic and domestic programs if the committee cannot agree on 1.5 trillion in cuts by the end of 2011  4) If Congress fails to act, Social Security, Medicaid and Veteran’s benefits and Military pay would be spared from immediate cuts.  

Read more: http://politics.blogs.foxnews.com/2011/07/31/follow-debt-drama-play-play#ixzz1TtqaZe3l
 


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