Research

That’s what Americans are probably asking themselves after Senate Democrats just voted to raise America’s debt ceiling by $1.9 trillion, the largest one-time increase in American history. This comes after Obama already raised it twice before, for a grand total of $3 trillion in total increases to America’s credit card limit.

Last night, President Obama declared that “like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don’t … that’s how budgeting works.” But RNC Chairman Michael Steele says today’s vote to increase America’s credit card limit to pay for Obama’s binge spending habit is a slap in the face to cash-strapped families across America:

Today’s vote to increase America’s debt ceiling is just another example, in a year full of examples, that the president has failed to live up to his promise of responsibility. At a time when millions of Americans are desperately struggling to live within their means and survive this economic recession, the fact the President Obama would team together with Congressional Democrats to increase America’s credit card limit is the height of political arrogance and the very definition of irresponsibility. 

As we point out in today’s research briefing, families can’t raise their credit card limit by record amounts, they can’t pass the buck to a “fiscal commission” that is “toothless,” and they can’t pretend that “freezing” their record spending increases will make their situation any better. If Obama wants to get serious about the deficit, he should start by stopping his binge spending habit.