Debt Limit Increase. This resolution (House Joint Resolution 51) would raise the public debt ceiling by $984 billion. Last year the public debt ceiling was increased by $450 billion. These huge increases in the public debt ceiling are necessitated by the fact that federal spending is increasing — and so are the annual deficits. The solution is not to allow the federal government to borrow more money but to cut spending.
The Senate passed H. J. Res. 51 on May 23, 2003 by a vote of 53 to 44 (Roll Call 202). We have assigned pluses to the nays because raising the public debt limit by $984 billion facilitates continued, gross fiscal irresponsibility.
