Sen Reid: Democrats want debt hike to March 2013

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U.S. House passes debt limit increase

Fri, Jul 29 2011
U.S. Senate Majority Leader Harry Reid speaks to the press during debt reduction talks on Capitol Hill in Washington, July 26, 2011. REUTERS/Jason Reed

U.S. Senate Majority Leader Harry Reid speaks to the press during debt reduction talks on Capitol Hill in Washington, July 26, 2011.

Credit: Reuters/Jason Reed

WASHINGTON | Fri Jul 29, 2011 7:29pm EDT

WASHINGTON (Reuters) - Senate Democratic Leader Harry Reid said on Friday his budget legislation would increase the nation's borrowing authority until March, 2013 and reiterated that he would not accept a short-term debt limit increase as Republicans are insisting.

Earlier in the day, Reid called on Republican Leader Mitch McConnell to sit down with him to work out a compromise for cutting federal spending and raising the debt limit by the August 2 deadline.

McConnell has thus far thrown his support behind a House of Representatives Republican bill that has been refined and could be voted upon later in the day. Reid has vowed to defeat that bill, which would extend the debt limit for only a few months.

(Reporting by Richard Cowan and Andy Sullivan; editing by Todd Eastham)
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Comments (1)
DrJJJJ wrote:
What’s another couple of $Trillion? We’ll change when we’re broke-it’s the American way now! We have the government we deserve! What we do with our money and debt says everything about us!

Jul 29, 2011 1:33pm EDT  --  Report as abuse
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