Failing to raise the debt limit is "not an option," House Majority Leader Steny Hoyer (D-Md.) said Tuesday. Hoyer encouraged colleagues to raise the federal debt limit, but said that Congress must take serious steps in the future toward addressing its long term deficits and debt. Sen. Evan Bayh (D-Ind.) demanded Tuesday that an increase in the debt ceiling be accompanied by the creation of a bipartisan commission to examine the deficit, a topic on which Hoyer showed some openness, but was ultimately noncommittal. "While failing to increase the debt limit is not an option, the need to raise the debt limit should be accompanied by a serious discussion about possible actions we can take to deal with our fiscal challenge," Hoyer said in a statement. "Putting in place a mechanism to deal with our long-term fiscal shortfalls, as well as legislation restoring statutory PAYGO, should be a part of that discussion." Hoyer noted some senators' support for the commission -- which he has previously endorsed -- but did not say specifically whether it should be tied to the debt ceiling vote. "I look forward to working with my colleagues in the House and Senate on these and other actions to deal with our fiscal challenges," he said. Hoyer: Failing to raise debt ceiling 'not an option' - The Hill's Blog Briefing Room Appoint a commission to examine the deficit? So spend money to save money... How about spending less money than you take in, in tax revenue? Omg I just saved us millions of dollars right off the bat.