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In political vote, House GOP opposes new borrowing

WASHINGTON (AP) - The Republican-run House on Wednesday weighed in against raising the government's borrowing limit by $500
billion, but the vote was really just a political show.
Legislation that President Barack Obama signed last month raised
the debt limit by $400 billion immediately. A second increase, this
time by $500 billion, was to take effect this month unless both the
House and Senate voted to block it.
Last week senators defeated efforts to stop the $500 billion
increase. So even though the House went on record with a 232-186
vote Wednesday against the second increase, the action had no real
consequence.
GOP Rep. Tom Reed of New York said Republicans still wanted to
make the point that they're serious about the issue. Democrats said
it was a waste of time.
The vote took place as officials said a so-called supercommittee
charged with drafting legislation to cut long-term deficits by $1.2
trillion would hold a closed door meeting Thursday. There was no
public announcement of the meeting and the agenda was unknown.
The panel has had two public meetings, including one on Tuesday
in which Douglas Elmendorf, director of the non-partisan
Congressional Budget Office, described the magnitude of the
challenge the panel faces in trying to both reduce deficits and
stimulate the economy.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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