Originally Posted by polgara
As I understand it, the new "debt limit date" is nothing more than a date. Some of the back room bickering centered on spending increases, with the Dems not wanting any dollar amount but only a date in the future (February) when they have to revisit the limit issue.
Republicans initially sought to attach strings to the debt increase, but surrendered this week, instead settling on a bill that reopened the government and included some special earmark projects, but didn’t include any spending cuts.
Democrats insisted that the debt increase be “clean,” meaning without any strings attached. They say the debt increase only allows Mr. Obama to pay for the bills he and Congress already racked up, and that it doesn’t encourage new spending.
Read more: U.S. debt jumps a record $328 billion
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So, you're right, what happens then?