Brought to you by the fiscally responsible GOP.
By ALAN FRAM, Associated Press Writer
WASHINGTON - A divided Senate approved an $800 billion increase in the federal debt limit Wednesday, a major boost in borrowing that Sen. John Kerry and other Democrats blamed on the fiscal policies of President Bush.
The mostly party line, 52-44 vote was expected to be followed by House passage Thursday. Enactment would raise the government's borrowing limit to $8.18 trillion — $2.23 trillion higher than when Bush became president in 2001, and more than eight times the debt President Reagan faced when he took office in 1981.
In his first remarks on the Senate floor since his presidential bid ended in defeat two weeks ago, Kerry, D-Mass., said his former opponent had presided over "the worst fiscal turnaround in our nation's entire history."
He was referring to the change from the $5.6 trillion in surpluses that were projected for the next 10 years when Bush took office in 2001, to the $2.3 trillion in deficits now estimated for the coming decade. Kerry and other Democrats complained that those bills will have to be paid by future generations.
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