Update: House Votes 285-144 To Raise Debt Ceiling 4 Months; Now Unlimited?Submitted by SteveMT on Wed, 01/23/2013 - 12:27
[The can has been kicked again.]
House votes to defuse debt limit crisis
House votes overwhelmingly to defuse debt crisis, decides to increase borrowing limit
By Andrew Taylor – 1-23-2013, 2:00 ET
WASHINGTON (AP) -- The House overwhelmingly passed a bill Wednesday to permit the government to borrow enough money to avoid a first-time default for at least four months, defusing a looming crisis setting up a springtime debate over taxes, spending and the deficit.
The House passed the measure on a bipartisan 285-144 vote as majority Republicans back away from their previous demand that any increase in the government's borrowing cap be paired with an equivalent level of spending cuts.
[There is in fact no longer a numerical borrowing limit, since no new spending limit was put into this bill.]
"No cost estimate is available at this time." [Indeed]