Washington, D.C. — The House of Representatives today voted 239-176 to reject the President’s request for an additional $1.2 trillion in borrowing authority. Congressman Tim Murphy (PA-18) voted in favor of H.J.Res. 98, a formal Resolution of Disapproval.

“The federal debt stands at $15.247 trillion, which equals an astonishing $135,072 per taxpayer. We have to stop the fiscal insanity of the same old ‘Buy Now, Pay Later’ policies of the Obama White House. No more borrowing trillions from China to pay for things we don’t need and can’t afford. The days of credit card budgeting must end.”

On January 12, 2012, President Obama formally requested Congress approve a second increase to the debt limit under the August 2011 Budget Control Act. His request comes after the joint House-Senate Supercommittee failed to deliver a deficit reduction proposal by the November 2011 deadline — leaving Congress with no specific spending cuts. The President’s debt ceiling increase would go through without any corresponding specific budget cuts.

“Only by putting our country on a sustainable fiscal plan can we grow private sector jobs and boost our economy. We can’t keep spending what we don’t have. Today’s vote should also serve as a wake-up call to the Senate, which has gone 994 days without passing a budget.”

The Resolution of Disapproval now awaits further action in the Senate.