U.S. Representative Cynthia Lummis released a statement Thursday saying that the passage of a $1.9 trillion increase in the national debt limit will allow President Obama to continue to borrow and spend enough money to keep up with his record-breaking $3.8 trillion budget proposal.
The U.S. House of Representatives passed a bill which increases the current statutory debt limit by $1.9 trillion, from $12.394 trillion to $14.294 trillion. The 15.3 percent increase would be the third raise since February 2009, and the largest amount of a one-time debt limit increase in history. Lummis voted against the bill.
Since Democrats took control of Congress in January 2007, the debt limit has been raised by Congress five times and the national debt has increased by 42.5 percent or $3.69 trillion. This would be the third time that President Obama will have increased the debt limit since being inaugurated.