WASHINGTON (AP) - President Barack Obama and congressional Republicans are sharpening their disagreements over deficit spending as the House plans votes on the issue later today.
Obama says deficit spending is still needed to create jobs and stimulate the economy. But most Republicans and some moderate Democrats say the deficit is growing too big.
The House plans to vote on a $200 billion increase in the federal debt ceiling, extending the limit for two months. It also will vote on nearly $50 billion in new spending on highways, housing, school repairs and other projects meant to create jobs.
Democratic leaders had hoped for a larger and longer-lasting increase in the debt ceiling. But Republicans and centrist Democrats blocked the move.