WASHINGTON – The U.S. Senate late last night, on a vote of 63 to 36, passed a bill lifting the nation’s debt ceiling until 2025, just days short of the government defaulting on its debt obligations.
Minnesota Sen. Amy Klobuchar says a default would have been “catastrophic for all Americans.”
“We were able to protect Social Security and Medicare from harmful cuts, which is really important to many people in our state,” Klobuchar said.
North Dakota Sens. John Hoeven and Kevin Cramer made it clear that the deal negotiated by House Speaker Kevin McCarthy and President Biden was far from perfect, but necessary to avoid a disastrous default.
“The failure to raise the debt limit would force the United States’ first ever default on debt,” Cramer said. “That would rattle markets. It would delay pay and benefits for our military veterans and seniors. Really, default wasn’t an option. It should never be an option, but neither is a blank check.”
Considered to be the largest spending cut in history, Hoeven said while there should be more savings, the agreement is a step in the right direction as work continues to rein in spending and control the debt and deficit.
The bill now goes to the president for his signature.
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