OMB Watch released a statement yesterday about the vote in the Senate to increase the nation's debt limit for the fourth time in the last five years. Read the statement

Last night the Senate passed the budget resolution by a very close vote of 51-49. Vice President Dick Cheney was on hand in case he was needed to provide a tie-breaking vote. A series of amendments approved by a bipartisan majority added $16 billion in spending to the $2.77 trillion resolution for FY 2007 that came out of committee. The increased spending -- as well as deals made with Gulf Coast lawmakers for increased funding to their states -- helped ensure final passage.

The Senate will likely vote to increase the debt limit at some point tomorrow. Below are some good articles on the issue. New York Times: Senate Could Vote Thursday to Hike Debt Limit Los Angeles Times: Senate Stalls Debt-Ceiling Decision The Hill: Debt Limit Vote Seen as Budget Reform Lever When $8 Trillion Isn't Enough

After casting not one, but two votes last fall in favor or reinstating traditional two-sided PAYGO rules on the budget reconciliation bill (vote) and the tax reconciliation bill (vote), Sen. Tom Coburn caved to his Republican leadership and voted against the same exact PAYGO rules he supported last fall. Coburn's flip-flop on PAYGO was the crucial factor in the failure of the Conrad PAYGO amendment to the budget resolution yesterday.