NJ House Delegation Votes 9-3 in Favor Menendez and Booker Vote Yes
President Obama is expected to sign a bill that would raise the debt ceiling into law prior to February 27, the date at which the nation is expected to exceed the debt limit. The bill passed through the House and Senate last week.
“relied primarily on Democrats to carry the legislation, the first debt ceiling increase since 2009 that was not attached to other measures. Only 28 Republicans voted yes. But it effectively ended a three-year, Tea Party-fueled era when a series of budget showdowns raised the threat of debt defaults and government shutdowns, rattled economic confidence and brought serious scrutiny from an international community questioning Washington’s ability to govern.”
The New York Times has also posted on its website a two minute video explaining the debt ceiling issue.