Debt Ceiling RAISED Amid Biden's Awful Economy

Written By BlabberBuzz | Wednesday, 15 December 2021 19:00
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On Tuesday afternoon, the Senate voted to raise the debt ceiling by $2.5 trillion - just one day before Treasury Secretary Janet Yellen warned the U.S. could go into default.

Only Democrats voted in favor of the hike, with the final vote standing at 50 to 49, with one Republican abstaining. That meant Vice President Kamala Harris was not needed in order to break a tie.

Senate Majority Leader Chuck Schumer insisted on the floor Tuesday morning that the hike would allow the U.S. to borrow enough money to fund its expenses into 2023 - after the midterm elections.

Schumer and Senate Minority Leader Mitch McConnell struck a deal last week. They attached a rule-change to another bill that would allow the debt ceiling resolution to go forward with a simple majority vote - instead of the typical 60 votes required for cloture.

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This allowed Democrats to avoid a Republican filibuster threat and permitted McConnell to deem it a win, as he wanted only Democrats to vote for the hike. This enabled the GOP to go after Democrats for the debt in the run-up to the 2022 midterms.

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Still, former President Donald Trump and other Republicans lamented that McConnell allowed Democrats to utilize a fast-track approach, instead of using the more cumbersome process of reconciliation to push the bill through.

The debt ceiling resolution will also need to be passed in the House.

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On Thursday, the Senate passed a bill that would allow them to expand the debt ceiling one time using a simple majority.

In a vote of 64 to 36, 14 Republicans joined the Democrats in a procedural vote on a bill that delays Medicare sequestration cuts for three months that also contains a provision that allows for the debt ceiling to be raised one time using a simple majority.

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Schumer thanked McConnell for playing ball and expressed on the Senate floor Thursday that their conversations were 'fruitful, candid, productive' and said this was the 'responsible' action to take.

Republicans who joined the Democrats for the cloture vote included McConnell and Sens. John Thune, John Barrasso, Shelley Moore Capito, Roger Wicker, Susan Collins, Roy Blunt, Thom Tillis, Lisa Murkowski, Richard Burr, Joni Ernst, John Cornyn, Mitt Romney as well as Rob Portman.

On final passage, which was 59 to 34, ten Republicans joined 49 Democrats in boosting the bill over the line.

They included Barrasso, Blunt, Capito, Collins, McConnell, Murkowski, Portman, Romney, Thune, and Tillis.

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