By a voice vote, the Senate Finance Committee today approved legislation to raise our country’s debt limit by $850 million. This comes a day after the Senate approved its version of the Fiscal Year 2008 Transportation and Housing and Urban Development appropriations bill, which is $3.1 billion more than President Bush’s request. Nothing more sends the message that we need to cut spending than our having to increase the federal debt limit.
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It’s time this Congress and the Democratic leadership put two and two together to reduce spending, not increase it.
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