Both the U.S. House and Senate have to both pass the debt ceiling compromise President Obama announced last night. If Congress does not vote in favor of raising the debt limit, the federal government will not be able to pay all of its bills. This would also include possibly not being able to pay U.S. military members.
As panic looms, South Carolina Senator Lindsey Graham remains confident in paying the troops. He gave a message to them on ABC News–
“We’re going to pay you, but we’re going to change Washington so your country doesn’t become weak and ineffective and have more debt than your children can afford to pay,” says Graham.
The plan would give government a $2.4 trillion hike in the debt limit, but only if Congress can find ways to cut other areas of spending.
Congress will vote in each caucus today before tomorrow’s deadline to raise the limit.