THe legislation wouldn't quite constitute a debt ceiling "hike." What it would do, instead, is declare the statutory debt limit shall not apply" until May 18. And, as Suzy Khimm details, "the debt limit would automatically be increased to account for borrowing that occurred during that period." What number that...
In response to:
The only ones trying to take hostages are Democratics. The people under 40, who pay taxes, are going to be worse then hostages, they are going to become slaves to the Federal Goverment. Their going to pay a huge percentage of their income, more then the one percenters today, just to pay off the borrowed money for MY SSN payments today.
Following the House GOP retreat last week, reports leaked that Republican leadership would bring a debt ceiling hike to the floor of the House. It's happening soon - text of the legislation is out now and the House could vote on it as soon as tomorrow.
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