Senate votes down GOP debt ceiling plan

[The Straight Story]

Senate votes down GOP debt ceiling plan

The Senate on Friday defeated the Republican "Cut, Cap and Balance" proposal, a move that puts the onus on President Obama and House Speaker John Boehner to present a plan soon to raise the debt ceiling or risk a potentially catastrophic default.

The procedural vote to kill the measure that was approved by the Republican-controlled House on Tuesday was along party lines in the Democratic-controlled Senate.

"We're going to dispose of this legislation as it needs to be, so that President Obama and the speaker can move forward on a that will have some revenue in it," Senate Majority Leader Harry Reid (D-Nev.) said just before the roll call began.

Friday had been seen as a potentially critical date in the weeks-long budget debate. According to the Treasury Department, lawmakers must agree to a plan that raises the debt limit before Aug. 2 or the federal government could default on its obligations for the first time in the nation's history.

http://www.latimes.com/news/politics/la-pn-senate-debt-vote-20110722,0,581804.story

[sakabatou]

1. YAY!

[Skink]

2. How many Senators are already in the air on there way to a long weekend?

[emulatorloo]

3. There's a cloud in every silver lining, I guess.