Debt Ceiling Legislation Passes and Congress Goes on Vacation

By Scott Sarvay

August 3, 2011 Updated Aug 3, 2011 at 5:23 PM EDT

WASHINGTON (Indiana’s NewsCenter) - The debt ceiling debate may be over for now, but the markets have been down for over a week, consumer spending and economic growth are also down.

Even thought the President emphasized a renewed focus on job creation, Congress is now on recess for the rest of August.

And as Congress leaves town, it's leaving some of its problems behind, after Senate Republicans blocked a move to end the partial shutdown of the Federal Aviation Administration.

Their bitter partisan battle has forced the layoff of at least 4,000 FAA workers and the shutdown of dozens of airport construction projects for up to 80,000 construction people when the money ran out.

The deadlock is mostly over subsidies for passenger air service to small town airports.

The government is likely to lose over $1 billion in airline ticket taxes.

The next vote is scheduled for Tuesday, September sixth.




What are your thoughts CLICK HERE to leave us a "Your2Cents” comment.

Want to be in the know for the next weather event, the next school closing or the next big breaking news story?

TextCaster alerts from Indiana's NewsCenter are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!

Powered by Summit City Chevrolet



© Copyright 2014, A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.