Washington, DC- U.S. Senator Jim Risch issued the following statement after his vote against raising the federal debt ceiling by $1.9 trillion. The increase was approved by a 60-39 vote.
"I strongly oppose the increase in the debt limit to $14.3 trillion. This debt is equivalent to $40,000 for every person in the United States. This was a straight party line vote and puts off having to raise it again until after the November elections. This increase is troubling because there is no plan in place to get our spending under control. At this rate our debt will double in 5 years and triple in 10.
"Estimates show that by fiscal year 2018 net interest payments alone will be more than $700 billion annually; up from the $202 billion we pay now. That will be more than the projected spending for our national defense. This spending spree will harm our economic future and the American people want this unlimited credit card to be cut up."