Mississippi reacts to House GOP debt showdown bill - WLOX.com - The News for South Mississippi

Mississippi reacts to House GOP debt showdown bill

BILOXI, MS (WLOX/AP) -

Republicans have muscled legislation to extend the government's borrowing authority and cutting spending through the House over solid Democratic opposition.

The 218-210 vote sets up a confrontation with the Democratic-controlled Senate and President Barack Obama, who say the GOP-written measure will die in the Senate. They say the bill would wreak economic havoc because it would force lawmakers to vote on another extension of the debt ceiling early next year, in the heat of presidential and congressional campaigns.

Administration officials say Congress must find a compromise to raise the debt ceiling by Tuesday or the government will run out of cash to pay its bills. That could prompt an unprecedented federal default, which could rattle the economy with shocks such as higher interest rates.

Mississippi Congressman Steven Palazzo voted for the legislation.  "House Republicans have done their job, its time the Senate does theirs and we end this debt crisis," he said.  "We have victoriously held the line on no new or increased taxes, spending cuts greater than the size of the debt limit increase, and balanced budget amendments to force Washington to spend within its means."

Mississippi Governor Haley Barbour had a similar reaction.  His office sent out a two sentence response from the governor that said, "The House has taken a step in the right direction. Hopefully, the Senate will follow suit."

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