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In the coming weeks, Congress must act to increase the debt limit.
The same vote would be required to increase the debt limit.
Republicans put off action on the national debt limit until late next month.
Never in our history has Congress failed to increase the debt limit when necessary.
This is a significant upside to the debt limit deal.
Thus, the government increased the debt limit, just as it had in August.
Spending was reduced more than the increase in the debt limit.
Unfortunately, America's debt limit has not been nearly so stable.
In the next few weeks, Congress will have to raise the ceiling on the debt limit to keep the federal government going.
Congress has always acted when called upon to raise the debt limit.
The agreement cut spending more than it increased the debt limit.
The day before, however, the Senate had taken a vote on extending the federal debt limit.
As a matter of politics, then, debt limit votes are a tax on the majority.
The total amount of spending was agreed to in the debt limit deal, so that is not at issue.
But they will have at least two encounters this year over whether to raise the debt limit.
I would have no problem with signing an extension of the debt limit.
Nations must at some stage reach their maximum debt limit.
In short order, they found that the resulting debt limited their ability to expand.
I'm opposed to increasing the debt limit without significant reform to the way Washington does business.
In this situation, your personal debt limit is off.
The same was true during the 1985 and 2003 debt limit impasses.
"The need for an increase in the debt limit is unrelated to the debate over the budget."
And besides, didn't Congress already increase the debt limit last summer?
This action does not free up headroom under the debt limit.
This issue was highlighted during the debt limit crises of 1985, 1995-96 and 2011.