No, NO, NO!!!
This is money already obligated! Raising the debt ceiling is not spending. God, this needs stepe engraved on every conservative's gun so he can see it when he's fondling it.
Limiting your spending is fiscally responsible. Not paying your godd-mned credit card is just being a deadbeat!
Authorized, obligated, or expended?
DANNGER! ACCOUNTANT SPEAK!!!!
Authorizations give you the authority to spend the money. These bills originate in the various congressional committees. They're pretty, but you can't do much with an authorization.
The true power come from the House Ways and Means or Senate Appropriations committees. They give you the authority to spend money up to what they tell you, not what was authorized.
But you still can't do anything because you don't have the money to spend. For that you need the warrent from the Treasury to put money (quarterly, semiannually, or annually) into your cash account. Keep this number in mind it becomes important later. Every $$ that goes into your warrant takes cash from the overall government cash account.
The government gets cash from taxes, duties, fines among the usual sources. If that amount is insufficient, then the Treasury has to borrow money to get more cash. This borrowing affects the debt ceiling.
After a few intermediate steps done in the budget office, I can now spend money for what Congress allowed. Budget puts the money into your allocation account (ledger account 4601).
First I commit the funds. This rather useless step says you have sufficient funds remaining to spend.
Now that the funds have been committed, you can contract to spend them via a grant, purchase order, travel order and the like. Guess what? You can always change the amount if it hasn't been spent. It is a sin to obligate (contract) out more money than you have your allocation. It can be very embarrassing if you are over obligated at the end of the quarter.
Now comes cash out the door. When you pay somebody either by drawing down on one of the above instruments or using a government credit/travel card or biweekly payroll, you finally draw down on the cash in the your bank account. It is a grave sin to overdraw your cash. People can get fired.
Total obligations = obligations (ledger accounts 4801 & 4802) + expenditures (4901 & 4902). Total obligations cannot exceed the allocation (4601) from budget. And the allocation cannot exceed your warrant.
If you're coming close to your balance, you have to stop paying bills or cancel contracts or cancel travel.
END ACCOUNT SPEAK
Any contract has a clause, "subject to available funds." If there isn't any money, you deobligate the contract to get under the ceiling, or you don't pay the invoice (which subjects you to prompt payment penalties).
So,in the end,the Federal government should live within its means. That is not saying debt is bad. As ordinary citizens we have good debt and bad debt. Good debt could be classified as mortgages and car loans. Bad debt could be classified as credit card debt.
Uncle Sam borrowing money to build a building is an example of good debt. Borrowing money to pay your ordinary bills is had debt.
That's why you have to look at the US debt. If was incurred to pay current bills,I have problems. If it was to build a building, no problem.