Thursday, January 21, 2010

Democrats propose $1.9T increase in debt limit to avoid ‘defaults on obligations’ - yahoo

http://news.yahoo.com/s/ap/20100120/ap_on_bi_ge/us_congress_debt_limit_11 The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats, who, as the party in power, hold the responsibility for passing the legislation.