House Passes Debt Legislation –

The House passed legislation to raise the debt ceiling with a vote of 269-161.  Only 66 Republicans opposed the bill and 95 Democrats supported the legislation.  The legislation will raise the debt ceiling by $2.1 trillion and cut federal spending by $2.4 trillion. 

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/news/2011-08-01/obama-debt-cap-deal-with-congress-leaders-avoids-default-vote-due-today.html

Jim Sutliff

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