U.S. House votes to raise debt limit, cut spending
(AP) - The House of Representatives has passed legislation designed to keep the government from defaulting on its debts. The measure also sets a course for reducing the federaldeficit in the future.
The Senate, where support is stronger, is expected to take upthe bill on Tuesday, the deadline for Congress to act before thegovernment loses its ability to pay all its bills.
The 269-161 vote in the House came after Republican leadersspent the day urging recalcitrant conservatives to support thebill.
The bill would raise the debt ceiling by more than $2 trillionand cut federal spending by a similar amount over the next decade.A special congressional committee would be set up to considerentitlement and tax changes.
Obama: Deal reached to raise federal debt ceiling