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US Senate passes short-term increase to the debt limit, House to vote on it next

Tiger Newspress2021-10-08

The Senate on Thursday approved a bill to help the U.S. avoid a default on its debt in the next few weeks.

In the most consequential vote of the night, 11 Republicans joined all 50 Democrats to provide the minimum 60 votes needed to end debate and move the bill to final passage, which required a simple majority.

None of the Republicans who voted to end debate also then voted to pass the final bill. But for that, Democrats needed only 50 votes, because at least one Republican, Sen. Richard Burr of North Carolina, was not present.

The U.S. risks economic calamity if Congress doesn’t raise or suspend the borrowing limit by Oct. 18, Treasury Secretary Janet Yellen has warned. Senators signed off on legislation Thursday that would keep the nation from reaching its debt limit until early December.

The agreement allows the debt limit to increase by $480 billion, a sum the Treasury Department estimates will allow it to pay bills until Dec. 3. The current national debt is about $28.4 trillion and would be permitted to rise to about $28.8 trillion.

The bill now moves to the House, where Speaker Nancy Pelosi, D-Calif., is expected to take up the legislation in the coming days.

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评论40

  • JohnnieBeGd
    ·2021-10-08
    It's a temp move for a greater correction coming ahead in 2022. Mark my words...
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  • YCLim
    ·2021-10-08
    I see
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    收起
    • JKGan
      ok
      2021-10-09
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  • tkj
    ·2021-10-08
    This drama is the sequel to 'No Time To Die'....'No Money To Pay'
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    • Tchwee56
      Like please
      2021-10-08
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  • LimLS
    ·2021-10-08
    Let see how this drama plays out and how it is used to play the market and create volatility. Though we all already know the ending of the drama which is the approval of new debt ceiling increased.
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    • tkj
      you are right....this is pure drama. the republicans must show that they oppose but do they really have a choice? nah...
      2021-10-08
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  • JaiVenky
    ·2021-10-08
    Nice!
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  • Lamborghini1
    ·2021-10-08
    Latest
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  • adonis123
    ·2021-10-08
    What has to be done will eventually be done
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  • Khoo12
    ·2021-10-08
    [Smile] 
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  • labbiT
    ·2021-10-08
    As expected, the can is being kicked down the road [Happy] 
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  • Moonbyul
    ·2021-10-08
    Finally they pass the debt ceiling 👍🏻
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    • Khoo12
      [Smile]
      2021-10-08
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  • pointe
    ·2021-10-08
    Ok
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  • HENRYCSC
    ·2021-10-08
    Good 
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  • ronlee
    ·2021-10-08
    Good or bad news
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  • Juanlee
    ·2021-10-08
    Prolonging the government drama to further the market fluctuations so that the insider officials  could manipulate the market to squeeze more profits out from the markets. 
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    • LimLS
      Got to use this to create news to create the necessary drop or rise so the insider can profit. Nothing unusual. Retail investors can consider stay out or just buy the dip and wait for the drama to end
      2021-10-08
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  • Reinbow
    ·2021-10-08
    How short is short term?
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  • Wuji
    ·2021-10-08
    How come so fast …. I haven’t show hand leh … please drop 50% 
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  • winsolutions
    ·2021-10-08
    Short term??Meaning the limit will revert after unknown number of years?What a BS!!!!!
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  • HuatTheFffff
    ·2021-10-08
    Hmmmm
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  • FrederickL
    ·2021-10-08
    Hope for the best
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  • Wei_SG
    ·2021-10-08
    [强]
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    • 7d918508
      True
      2021-10-08
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