Reuters
December 23, 2009

[efoods]The U.S. Senate on Tuesday set a Christmas Eve vote on final congressional approval of a bill to provide a two-month increase in the federal debt limit.

The measure, passed last week by the House of Representatives, would increase the debt limit, now at $12.1 trillion, by $290 billion.

Senate Democrats may approve the measure largely by themselves because most, if not all, Republicans are expected to vote against it, Republican aides said. Democrats control the Senate, 60-40.

Republicans have objected to raising the debt limit, accusing Democrats of reckless spending. Democrats counter by noting that the debt exploded during the administration of Republican President George W. Bush, which ended in January.

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