House Raises Debt Ceiling

Bullet dodged? The House voted to raise the government debt ceiling by $1.9 trillion on Thursday—but just barely. The measure passed 217-212, raising the overall debt cap to $14.3 trillion. Had the measure failed, the U.S. government would have defaulted on its debt, which would have rattled markets. To help win passage, Democrats are adopting new pay-as-you-go budget rules.