And as stated by the Treasury Department: "The debt limit
does not authorize new spending commitments.
Democrats provided most of the "yes" votes on the debt limit
increase, which was hastily attached to a measure renaming an air traffic control center in Nashua, New Hampshire.
Should a debt limit
bill pass the House, Washington Analysis says that it "fully expects the Senate to follow suit with little difficulty," either this week or the week of Feb.
With a fresh extension of borrowing authority now needed again, the GOP debt limit
plan is likely to employ the same approach and suspend the debt limit
through early next year.
House Republicans say they want concessions in exchange for raising the debt limit
, though they've been unable to agree on exactly what.
113-46) that included a suspension of the debt limit
that ended on February 7, 2014.
But, by itself, raising the debt limit
does not increase the nation's financial commitments under existing policies, and refusing to raise the debt limit
does not reduce those commitments (Austin and Levit 2013).
meeting with the bipartisan leadership has been postponed to allow leaders in the Senate time to continue making important progress towards a solution that raises the debt limit
and reopens the government," the White House said in a statement.
Palin wrote that defaulting on the country's national debt is an impeachable offense, and any attempt by Obama to unilaterally raise the debt limit
without Congress is also an impeachable offense.
It would provide funding to end the government shutdown and avert a potentially catastrophic default by increasing the federal debt limit
so the government can pay its bills on time.
According to one Senate Democratic aide, the debt limit
hike might be coupled with a new initiative to reform the U.
With the US government shutdown in its third day yesterday and no end in sight, a worrisome reality is sinking in on Capitol Hill: The standoff is merging with a much more complex fight in mid-October over raising the federal debt limit