Senate must raise debt ceiling above $12T

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.
The move will highlight the nation’s record debt, which has been central to Republican attacks against Democratic congressional leaders and President Barack Obama. The year’s deficit is expected to hit a record $1.6 trillion.”
So what happens if they don’t? After all, Obama voted against raising the debt limit when he was in the Senate"