House Republicans Declare Victory After Debt Limit Surrender

"And then I told the president, 'Okay, we'll give you everything you want.' And he accepted our demand." So House Republicans suspend the debt limit through May 19, giving President Obama authority to effectively raise the debt ceiling on his own, they do it with basically no meaningful strings attached, and they do it after having repeatedly pledged to never, ever raise the debt limit without cutting at least one dollar in spending for each dollar of debt limit increase.

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