In addition to patent reform, the Senate took another step last night with little fanfare. They allowed for the increase in the debt limit by $500 billion, per the agreement in the debt limit deal. Under the deal, the debt limit increased right away by $400 and the President was able to request another $500 billion, but the Congress could use a resolution of disapproval to essentially disapprove of the increase. Then the President could veto that disapproval, and that could be sustained by just 1/3 of either chamber. It was a silly, Rube-Goldberg way to increase the debt limit. But Democrats actually stopped the resolution of disapproval yesterday:
The action came under an unusual legislative procedure spelled out under the August agreement to raise the U.S. debt ceiling and avoid a U.S. credit default. In a 52-45 vote, the Senate blocked an attempt by Republicans to slow down the process that will result in the $500 billion debt-ceiling increase [...]
There was a twist in this scenario Thursday evening, however. Democrats held firm, rejecting the resolution of disapproval, thereby speeding the process and increasing the borrowing limit immediately.
Only Sen. Ben Nelson (D., Neb.) broke from his party to vote with the Republicans in trying to move forward with the measure.
This didn’t have any fanfare attached to it, there was no campaign around it. The debt limit just got increased, and there wasn’t even a two-step of votes, but a one-step. This will be the case, too, when the next increase, of between $1.2 and $1.5 trillion depending on the outcome of the Catfood Commission II, comes into being. [cont'd.]