The US House passed a Senate amendment to increase the U.S. Debt ceiling by $1.9 trillion, which increases the amount government can borrow up to $14.3 trillion. Since Congress is so quick to raise this ceiling, the Treasury no longer views it as a bound and in November it admitted we would hit the ceiling sometime in mid- to late- December.
Steve Stivers would like you to know that Rep. Mary Jo Kilroy, a former central Ohio Socialist Party organizer, voted for it:
The amendment also included a budgetary gimmick known as PAYGO. As Rep. Mike Pence of Indiana explained, what PAYGO really means in Washington is: “You pay and they go on spending.”