Congressman Doug Lamborn (CO-05) today introduced legislation that would require the House and Senate to pass a joint budget resolution before increasing the nation's borrowing power. Lamborn introduced his bill in conjunction with a House vote today to disapprove of President Obama's request to once again raise the nation's borrowing limit.
H.R. 3778, the Budget Before Borrowing Act,would prevent Congress from raising the debt ceiling limit unless the House and the Senate have agreed to a budget resolution. This can only be waived with a vote of two-thirds of the Members in both Houses.
"Some may be shocked to learn that the Senate has not passed a budget in three years. Despite that, or perhaps because of that, Washington's borrowing and spending continues out of control.
"President Obama has no business asking Congress to increase the nation's borrowing limit when the Senate hasn't put forward any kind of spending plan.
"My bill is a straightforward, no-gimmicks approach to spending money. We simply cannot continue borrowing more money without a plan on how we will spend that money and pay it back."-- Doug Lamborn (CO-05)
Congressman Lamborn supported a Disapproval Resolution in the House today. The Resolution expresses opposition to increasing the nation's debt-ceiling limit as requested by President Obama.
The president is asking for an additional borrowing power of $1.2 trillion. This will bring our national debt to $16.4 trillion. Since President Obama took office on January 20, 2009, the national debt has increased by $5.8 trillion or nearly 60 percent in just three years, from $10.6 trillion to $16.4 trillion.
The President will likely be back asking for another increase at the end of this year.