Economy

House Republicans Schedule Vote On Radical Debt Ceiling Bill

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CREDIT:

According to a press release from House Republican Conference Chairman Jeb Hensarling (R-TX), the GOP intends to vote on the radical “cut, cap, and balance” plan on Wednesday, July 20th. The bill calls for the debt ceiling to be raised only if Congress sends to the states a balanced budget amendment. As we’ve noted before, the balanced budget amendment is a gimmick that allows lawmakers to pretend to care about the deficit without explaining how they’d actually reduce it (and enacting one would force the government to actively make economic downturns worse).

UPDATE

The vote may now take place Tuesday.

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