Jan 24, 2023
Legislation sponsored by House Democrats would eliminate limits on government spending not by raising the debt ceiling, but by repealing it. Introduced by Rep. Bill Foster, D-Ill., and cosponsored by 42 other Democrats, the End the Threat of Default Act removes the $31.381 trillion limit set by Congress on how much the U.S. Treasury can borrow. The federal government hit that limit last week, causing Democrats to request more money to fund current government spending obligations. "The government has an obligation to pay its bills," Foster said in a statement. "We can and should have a real conversation about overall spending, but the full faith and credit of the United States must never be compromised." Republican opponents of the Foster approach argue congressional approval of spending measures forces the government to hit its borrowing limit. House Republicans are calling for spending cuts before further raising the debt ceiling to prevent continual debt-limit inc