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The Republican leadership joins with Democrats to pass a debt limit extension.
Current Speaker of the House John Boehner pushed through a clean debt limit bill on Tuesday that gives the White House unlimited borrowing power for the next year. Only 28 Republicans – mostly allies of Boehner – voted for the bill while 199 Republicans opposed it.
To me, this extension is a disaster, as it appears to give Obama a blank check. The silver lining is that the Republican Party, minus its cowardly leaders, appears increasingly more unified behind stronger actions against spending. After the November election that trend should certainly continue.
If it doesn’t, bankruptcy is sure to follow.