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“YES” on H.J. Res. 98, a resolution of disapproval regarding President Obama’s authority to increase the debt limit.
January 18, 2012
NTU urges all Representatives to vote “YES” on H.J. Res. 98, a resolution of disapproval regarding President Obama’s authority to increase the debt limit. Although its practical legislative impact on the fiscal policy process is uncertain, passage of H.J. Res. 98 would still send an important message.
Given the “Super Committee’s” failure to agree on a plan to reduce future deficits, the President is authorized under the terms of the Budget Control Act to request an additional $1.2 trillion increase in the debt limit. This follows a $900 billion boost less than six months ago. The sheer speed at which Washington continues to breach its borrowing boundaries is a stunning indictment of federal budget policy. Indeed, this will be the sixth time during Obama’s presidency that Congress will be asked to pass an increase to the debt limit.
Rather than continue on this unsustainable trajectory, in which debt ceiling increases are routine, public officials must demonstrate a clear, credible plan to reduce expenditures, one that should ultimately be backed by constitutional fiscal reforms.
Roll call votes in favor of H.J. Res. 98 will be significantly weighted in our annual Rating of Congress.
If you have any questions, please contact NTU Federal Government Affairs Manager Brandon Greife at (703) 683-5700