The U.S. Senate approved the last-minute deal to raise the debt ceiling today by a vote of 74 to 26 (roll call). Iowa’s senators voted no for very different reasons. Democrat Tom Harkin reject the deal he called “a clear and present danger to the fragile, indeed faltering, economic recovery.” Republican Chuck Grassley said the plan “delays meaningful spending reductions, fails to address entitlement spending in a way that will save the programs for future generations of retirees, and leaves open the possibility of tax increases.” The complete statements from by Harkin and Grassley are after the jump.
Yesterday all five Iowans in the U.S. House voted against the debt deal as well. To my knowledge, no other state’s entire Congressional delegation rejected this national embarrassment.
After hailing passage of an austerity plan that will deeply cut domestic spending, President Barack Obama said today, “We’ve got to do everything in our power to grow this economy and put America back to work.” He missed that chance.
LATE UPDATE: Richard Kogan posted a helpful summary on “How the Potential Across-the-Board Cuts in the Debt Limit Deal Would Occur.”
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