Sen. Lee Threatens to Filibuster Bill Raising Debt Limit

The Hill reports:

Senate conservatives plan to filibuster legislation to increase the nation’s debt ceiling above $14.3 trillion, a move that will make it harder for President Obama to garner the votes he needs.

Sen. Mike Lee (R-Utah) has told supporters in Utah that he will filibuster the legislation to authorize Treasury Department officials to add to the nation’s multitrillion-dollar debt.

“That’s my intention, to filibuster it,” said Lee, a member of the Senate Tea Party Caucus.

Lee said he might be persuaded to back off if Obama and Democratic leaders agreed to a major concession, which GOP strategists consider highly unlikely.

“The concession would [have to] be something very significant, very permanent and very binding, like a balanced-budget amendment — and passage of it, not just a vote,” Lee said.

Lee added he would vote against an increase of the debt limit no matter what scenario unfolded.

This means Democrats will have to split the Senate GOP conference to win the support they need to increase the debt limit, which Treasury Secretary Timothy Geithner has made one of his highest priorities.

Senate Majority Leader Harry Reid (D-Nev.) would have to keep his conference together and pick off seven Republicans.

Failure to increase the debt limit could force the federal government to default on its bonds for the first time in history.