KUKIDE: Liberal House Democrats File Bill To Abolish Debt Limit…
A group of House Democrats are introducing legislation to abolish the debt ceiling, saying uncertainty surrounding the hikes causes unnecessary pain to the economy.
The lawmakers — who will unveil the bill Thursday — accuse Republicans of hurting the economy by ransoming a hike in the debt ceiling for steep spending cuts. They argue uncertainty over whether the U.S. will raise the debt ceiling will roil markets and damage confidence in the U.S. economy.
The Dem lawmakers behind the bill are Reps. Jerrold Nadler (N.Y.), Hank Johnson (Ga.), Jim Moran (Va.), Jan Schakowsky (Ill.), Keith Ellison (Minn.) and Peter Welch (Vt.).