Debt Limit Increase. This bill (House Joint Resolution 45) would raise the national debt limit from $12.4 trillion to $14.29 trillion — a $1.9 trillion increase. This increase, reported Congressional Quarterly, “should be large enough to cover borrowing into early next year.” Really? To put this astronomical $1.9 trillion increase in perspective, consider that the total national debt did not top $1 trillion until 1981.
The House approved the debt limit increase on February 4, 2010 by a vote of 233-187 (Roll Call 48). We have assigned pluses to the nays because raising the national debt allows the federal government to borrow more money and continue its gross fiscal irresponsibility.
