House Democrats reject $1.8 trillion increase to debt limit

12/15/2009 | Washington Post, The

Faced with resistance from budget-deficit hawks in their party, Democratic leaders in the House of Representatives abandoned a proposal to increase the U.S. debt limit by $1.8 trillion for two years. Instead, Democrats will support a two-month extension of the $12.1 trillion cap, said Majority Leader Steny Hoyer, D-Md. The actual amount of debt is projected to reach the limit by the end of this month.

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