House GOP passes 4-month debt limit suspension

It's gimmicky, but the House GOP passed their suspension of the debt limit law for 4 months, thus allowing the Treasury to spend beyond what had previously been authorized. Washington Post: But even as House Republicans voted to suspend enforcement of the debt ceiling through May 18, their budget chairman vowed to use the coming deadlines to force President Obama and Senate Democrats to deliver "a big down payment on the debt crisis." "Spending cuts are coming," House Budget Committee Chairman Paul Ryan (Wis.) told reporters at a breakfast hosted by the Wall Street Journal. "We are not going to lose the $1.2 trillion we've already got from the last debt-ceiling [fight]. We are going to have to negotiate on top of that for a new debt-ceiling increase. . . . We're very serious about this." He and other House leaders rallied GOP support for Wednesday's debt-limit vote by promising to deliver a budget plan that would wipe out deficits within the next decade - a...(Read Full Post)