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Republicans surrender until November on debt limit

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Rather than having another debt limit brawl with the consequence of causing more economic turmoil and undermining the US standing in the global financial markets, Republicans passed a “clean bill” to keep government in business.

They did not solve the problem permanently. They could have eliminated the debt ceiling altogether as most developed nations have done. That means that they would have relied upon Congress and the Executive branch to manage to keep the books in order by checks and balances. But, they didn’t do that.

They did what they could in the past to control spending and the trend is showing modest results. They did not solve the nation’s burdensome problem of having too much of the population left dependent upon government assistance. They did not produce a sustainable economy or a blueprint for one.

Neither Congress nor the President has addressed America’s requirements for economic sustainability.

“House approves 'clean' debt limit after Republicans drop demands

BY DAVID LAWDER AND RICHARD COWAN
WASHINGTON Wed Feb 12, 2014 5:41am EST

A man walks past the Capitol Building in Washington December 17, 2012.
CREDIT: REUTERS/JOSHUA ROBERTS

(Reuters) - The House of Representatives narrowly approved a one-year extension of federal borrowing authority on Tuesday after Republicans caved into President Barack Obama's demands to allow a debt limit increase without any conditions.

The 221-201 vote, carried mainly by Democrats, marked a dramatic shift from the confrontational fiscal tactics House Republicans have used over the past three years, culminating in last October's 16-day government shutdown.

It came after House Republicans repudiated House Speaker John Boehner's latest plan to link an increase in the $17.2 trillion borrowing cap to a repeal of planned cuts to military pensions.”

http://www.reuters.com/article/2014/02/12/us-usa-fiscal-idUSBREA1A18T20140212

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