Last night, with a bipartisan vote of 97 - 318, the House of Representatives rejected the Administration’s request to raise the nation’s debt ceiling above the current $14.3 trillion limit by another $2.4 trillion. The debt ceiling is a cap set by Congress on the amount of debt the federal government can legally borrow. The federal government reached its current debt ceiling limit of $14.3 trillion on May 16 of this year. Treasury Secretary Timothy Geithner has indicated that he can keep the country out of default until August 2, at which point he will need to begin prioritizing payments made on the United States’ outstanding financial obligations.

Learn more about my position on lifting the debt ceiling:
·         Prohibiting the Treasury Secretary from defaulting on the debt
·         Ensuring that our military men and women receive payment in the event of the government’s prioritization of payments

Read more background on the nation’s debt limit in the Congressional Research Service’s recent report, “Reaching the Debt Limit: Background and Potential Effects on Government Operations” here.

Find out the results of last week’s instaPoll here.

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