DOOCY: Senator, they suspended the debt limit until March of 2017, past the election. Doesn't that mean, for the most part, it's just an open checkbook -- as much as they want to spend, they can spend? 

MIKE LEE: Yeah, that's right. So there's no borrowing limit up until 2017. And so as much as need to be borrowed in order to satisfy whatever demands the federal government has at the time, they can borrow. And so, this too is a disturbing trend. In the past Congress used to raise the debt limit by a specified dollar amount. And it's no longer doing that. It's now just suspending the debt ceiling. It's sort of a debt ceiling Mardi Gras if you will. 

DOOCY: No kidding. Alright, Senator Mike Lee, the Republican from Utah who said no to this. But nonetheless it did pass. Senator, thank you very much. 

Previously:

Fox Still Doesn't Understand The Debt And Debt Ceiling

Fox News Attacks Obama For Correctly Explaining The Debt Ceiling

Heritage Foundation's Steve Moore Refers To Raising The Debt Ceiling As Issuing A “Blank Check”