Inhofe Opposes Debt Limit Increase
OKLAHOMA CITY (AP) — Republican Oklahoma Sen. Jim Inhofe says he voted against raising the U.S. debt limit because it allows an increase in the nation's debt without spending cuts.
The bill passed the U.S. Senate Thursday on a 64-34 vote and heads to President Barack Obama. The White House has said the president will sign the bill.
Inhofe said in a news release that he believes any debt limit increase should be tied directly to spending cuts.
The bill allows the Treasury to borrow above the current $16.4 trillion debt limit through May 18. Experts say that would allow the government to borrow about $450 billion to meet interest payments and obligations like Social Security benefits and government salaries.
The Republican-controlled House passed the legislation last week.
Copyright 2013 The Associated Press.