House Rejects Debt Bill

By: The Associated Press
By: The Associated Press

The Republican-led House has rejected a Senate
Democratic bill that would slash spending and avert a federal
government default.
The vote was 246-173. It was a pre-emptive vote in the
high-stakes political fight as the Senate still hasn't voted on the
measure from Senate Majority Leader Harry Reid. The measure would
raise the debt limit by $2.4 trillion while cutting spending by
$2.2 trillion.
The vote could set the stage for negotiations on a compromise
just three days before the Treasury says it will be unable to pay
all the nation's bills.
Debate on the measure was often testy and reflected the growing
frustration among lawmakers. House Democratic leader Nancy Pelosi
pleaded for an end to "this theater of the absurd" and said
"it's time for us to get real."

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