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Raising the Debt Ceiling to Avoid Default

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Published on Aug 2, 2011

Senator Cardin on the debt-ceiling vote in the Senate. "Default on our debt for the first time in our nation's history was not an option. The resulting agreement is far from perfect, but it protects domestic priorities by allowing more than $40 billion in discretionary domestic spending next year than the Republican budget that passed the House. I'm troubled by the lack of additional revenue measures, including closing tax loopholes for millionaires and subsidies for oil companies already making record profits. Now that it has passed the Congress, we must turn our attention to creating jobs and strengthening our economy."

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