In a 45 to 52 vote on Thursday night, the Senate failed to advance a resolution that would have disapproved of a pending $500 billion increase in the nation’s debt ceiling.
Under the debt-ceiling agreement reached in early August, the Obama administration was authorized to immediately raise the debt ceiling by $400 billion. Another $500 billion increase was authorized this month, although that could have been blocked if both the House and Senate approved resolutions expressing disapproval.
Earlier in the day Senate Majority Leader Harry Reid (D-Nev.) threatened to hold the Senate open for up to ten hours on Friday to “dispose” of the resolution if it moved forward.
Nice to see them serious about the debt. . . .