On August 2, 2011, the United States public debt was projected to reach its statutory maximum. Without an increase in that limit the U.S. Treasury would be unable to borrow money to pay its bills. Although previous statutory increases have been routine, conservative members of the House refused to allow an increase without drastically reducing government spending. Over several weeks and months, negotiators from both parties, both houses, and the White House worked to forge a compromise. The compromise bill, the Budget Control Act of 2011, was enacted on August 2.
VA Spring Break House Session 2011
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