Lawmakers Vote on Raising America's Debt Ceiling

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Uploaded by on May 31, 2011

At the government's current rate of spending, the U.S. will hit its debt ceiling in early August, unless Congress votes to raise the ceiling. Although House Republicans agreed to vote on a measure that would raise the debt limit, without spending cuts, the extension won't pass - a truth President Obama has acknowledged.

James Rosen spoke to Shep about the politics behind the vote and the details of negotiations to come.

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  • Shep: We've never defaulted before.

    Yes we have.  Three times in fact.

  • NO MORE NEW LAWS. STOP RAISING DEBT FOR OBUMMERS VACATIONS AND TRIPS TO CAMPAIGN FOR UNITED NATIONS. HE CAN SPEND HIS OWN MILLIONS, BILLIONS, SPOOKY DUDES TRILLIONS.

  • Imagine the average individual handling debt the same way this nation does. In debt-get more credit cards!

  • dont raise it! and yes we have defaulted before...

  • all this only means WAR

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