The Senate approved the rise, the third in three years, on Wednesday. The House is expected to pass it as well so it can be sent to President Bush for signing into law. The vote is expected to take place on Thursday evening.
"It is a necessary and not unusual step to ensure the government can pay its bills," said Rep. Tom Reynolds, a New York Republican.
The Treasury Department (news - web sites) has been forced to take special accounting measures to avoid piercing the current $7.384 trillion ceiling.
Democrats blame Bush's tax cuts for pushing up government borrowing and turning the fiscal surplus he inherited into a record deficit.
Oh yeah, this is fucking brilliant. Great president. That's what I'm gonna start doing. When I get close to my spending limit on my credit cards, I'm just gonna keep raising the limit and not paying anything off. Brilliant. Except this is our fucking country! There's a limit for a fucking reason!