Roberts said that some in the Obama administration have suggested that the president be able to raise the debt ceiling without Congress in order to ensure the economy does not react negatively if Congress misses its deadline. The Department of Treasury has said the federal government will reach its debt limit next month.
“This is an unsustainable situation that will only get worse unless we have a serious conversation about our spending priorities, including entitlement reform.”
Roberts said his resolution was necessary as Congress debates extending the borrowing limit for an additional three months, allowing more time to pass a massive spending reduction package. The House is expected to pass the three-month borrowing extension — the No Budget, No Pay Act — later Wednesday, which would also require Congress to pass a budget in order to receive their paychecks.
“We cannot keep spending what we don’t have,” Roberts said. “Let’s put the Senate on record that Congress holds the sole authority to increase the borrowing rate.”