House Speaker John Boehner got the Republicans in the House of Representatives to approve the debt limit bill with a vote of 269-161. The compromise bill will give the federal government the ability to borrow $400 billion dollars more and let President Barack Obama ask for another $500 billion in the next couple of months. 
Congress said that it would try to stop the second installment of debt ceiling increase. Another set of increase would be available after a special committee composed of twelve members identifies corresponding cuts in spending. The committee must come up with its proposal by Thanksgiving of 2012 and Congress must hold a vote on the recommendations before December 23.
Democrats are wary about the bill because it didn't have any revenue or tax increases. The Republicans are also concerned about the bill because military spending will have a huge cut. Most of the Democrats didn't cast their votes until the last minute as a sign of protest.
The process left everyone in the House distressed. Speaker Boehner had to hold two closed-door meetings where the GOP leaders had to convince the conservative freshmen and other members who were firm in their stand that spending cuts must be the core of any deal.
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