13 January 2012

Obama Starts Clock for Congress to Vote on Raising Federal Debt Ceiling For Another $1.2 Trillion In Government Borrowing Authority

President Barack Obama asked Congress for another $1.2 trillion in government borrowing authority, the third and final request under an August deal with lawmakers that averted a U.S. default.

The president’s notification to congressional leaders yesterday starts a 15-day countdown for lawmakers to consider and vote on a joint resolution disapproving of the increase.

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