WASHINGTON (AP) -- The Senate has killed the latest effort by the House to raise the government's borrowing cap. Democrats and several Republicans killed the GOP measure by a 59-41 vote Friday night, just minutes after it arrived from the House. Democrats opposed the measure because it would require another painful debt-limit debate early next year.
The move continues a standoff over the debt limit but could set the table for negotiations this weekend on compromise legislation that could pass the Democratic Senate and the GOP-controlled House before an Aug. 2 deadline to prevent a potentially disastrous default on U.S. obligations like interest payments and Social Security checks.
The measure would have immediately lifted the government's borrowing cap by $900 billion. It barely squeaked through the House.
House to vote down Reid's deficit plan Saturday
By Pete Kasperowicz - 07/29/11 07:57 PM ET
The House will reconvene Saturday to vote on Senate Majority Leader Harry Reid's (D-Nev.) budget plan, and will vote on Reid's proposal under a suspension of House rules.
That vote will take place despite a request from a House Democrat that the House not set up the bill as a suspension vote, which will require a two-thirds majority to pass and thus all but assures defeat in the House.
http://thehill.com/blogs/floor-action/house/174473-house-to-vote-down-reids-deficit-plan-saturday
