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A short time later, Congress formally approved the debt default that was already a de facto reality.
But Mr. Pataki -- who some city officials have said originally approved the debt idea -- was further irked about how this plan came about.
7 42 p.m. | Updated The House of Representatives approved the debt ceiling bargain negotiated over the weekend by President Obama and leaders from both parties, sending the measure to the Senate.
"While deficit reduction is part of that agenda, it is not the whole agenda," a grim-faced Mr. Obama said in the Rose Garden moments after the Senate approved the debt limit deal.
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Hours before the prime minister spoke, the leaders of the two parties remaining in the shaky Greek coalition government urged lawmakers to approve the debt deal.
We've got guys who will not approve the debt limit extension unless we give 'em a piece of meat, real meat,' " meaning spending cuts.
To improve the economy's near-term growth prospects, the deal should also contain a promise that Congress will approve the debt limit when necessary without a destabilizing delay.
Before approving the debt increase, Democrats sought to give themselves some political cover by voting on two amendments intended to signal their commitment to fiscal discipline as the country emerges from a recession.
And even if it were to pass and create the new process for approving the debt limit increase, Congress would still have to engage in another round of votes on the disapproval of the debt limit increase and a likely veto.
If bondholders approve the debt-for-equity exchange, they would own about 10percentt of G.M., making them a minority shareholder in a company controlled by the Treasury and the U.A.W.'s retiree trust.
Chapters Inc. said yesterday that it had withdrawn its offer for shares in its online sales unit because bankers would not approve the debt-financed transaction by the bid's deadline yesterday.
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CEO of Professional Science Editing for Scientists @ prosciediting.com