Senate Must Raise Debt Ceiling Above $12T

http://thehill.com/homenews/senate/57493-senate-must-raise-debt-ceiling-above-12t

The Senate must move legislation to raise the federal debt limit beyond $12.1 trillion by mid-October, a move viewed as necessary despite protests about the record levels of red ink.

Democrats in control of Congress, including then-Sen. Obama (Ill.), blasted President George W. Bush for failing to contain spending when he oversaw increased deficits and raised the debt ceiling.