The Party of Physcal Responsability

[mburbank]

House Debates $800B Debt-Limit Increase

By ALAN FRAM, Associated Press Writer

WASHINGTON - Democrats and Republicans clashed over deficits and tax cuts Thursday as Congress moved toward sending President Bush an $800 billion boost in the government's debt limit.

The bill would increase the debt ceiling from its current $7.38 trillion, marking the third massive increase since Bush took office in 2001. The government reached the cap last month, paying its bills since with cash from a civil service retirement account, which it plans to repay.

The Senate approved the legislation Wednesday by a near party-line 52-44 vote.