For the third time in as many years, Congress voted to raise the debt ceiling, allowing the government to keep functioning by running up the deficit even further. There was a time when Republicans were seen as the party of limited government and balanced budgets. But no more! They have become the party of no-taxes-but-spend anyway. I call them “red ink Republicans”.
The measure was passed by a nearly straight party-line vote. The new debt ceiling is $8.2 trillion, up from a ceiling of $5.9 trillion when Bush took office.