Democrats Propose $1.9 Trillion Increase In Debt Limit

The AP reports that "Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion. The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats, who, as the party in power, hold the responsibility for passing the legislation. It's hardly the debate Democrats want or need in the wake of Sen.-elect Scott Brown's victory in Massachusetts." Tweet