Lawmakers for the 119th session of Congress are set to be sworn into office at noon on Friday and already, the plate is full for action on a number of issues related to the budget.
Among the priorities, raising the debt limit, a.k.a. how much the Federal Government can borrow to continue operating.
Area Congressman Bill Huizenga says dealing with the debt ceiling really has become more theater than meaningful action on spending reforms — less than the original intent of setting a limit.
“It was to put spending in check. That has not happened. It has forced maybe some conversations about it, but when we have $36 trillion in debt, we have not tackled this and have not conquered this.”
Huizenga says regardless, raising the debt ceiling will be necessary in the short term and will probably come during budget reconciliation.
The current debt ceiling is set at $31.4 trillion. Adherence to the limit was suspended in 2023 and just came back into effect with the new year. Unless Congress acts, the Treasury Department says it expects the U.S. Government to be out of borrowing power as early as January 14.
