House Passes Temporary Debt Ceiling Hike, Averting Crisis

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On Tuesday, the House approved a Senate-passed bill to suspend the debt limit until December, temporarily preventing default by a vote of 219-206. President Joe Biden is expected to sign the bill shortly. “The measure would authorize the Treasury Department to continue paying loans for the country’s $28 trillion in debt,” House Speaker Nancy Pelosi said on the House floor Tuesday. “The debt ceiling is expected to last until about Dec. 3.” “Addressing the debt limit is not about future spending, as some have tried to represent. This is about meeting obligations that the government has already i…

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