Texas Rep. Ron Paul published an editorial on his Campaign for Liberty website Tuesday morning that called on his congressional colleagues to vote against an increase to the national debt limit. Paul, a longtime fiscal libertarian who typically votes against expansions of the federal government, voted against raising the debt ceiling to its current level in February, and was joined by all House Republicans when the party was in the minority.

Congress must vote to set a ceiling on the amount of debt the U.S. Department of Treasury can possess. Currently, that figure sits at $14.3 trillion, but the government will hit a wall in February 2011 where it will be unable to continue operating unless the debt limit is raised. Many of the newly elected Republicans hailing from the tea party wing of the party — including Paul’s son, Sen.-elect Rand Paul (R-Ky.) — have questioned the necessity of raising the debt limit and pushed the vote as a possible platform to stand against the Obama administration. In the editorial, Ron Paul writes that the vote will measure how effectively the new Republican majority sticks to the rhetoric employed on the campaign trail:

The upcoming vote will provide an interesting litmus test for the new Republican congressional majority, especially those new members closely identified with Tea Party voters. … If the new Congress gives in to establishment pressure and media alarmism about “shutting down the government” by voting to increase the debt ceiling once again, you will know that the status quo has prevailed. You will know that Congress, despite the rhetoric of the midterm elections, is doing business as usual. You will know that the simple notion of balancing the budget, by limiting federal spending to federal revenue, remains a shallow and laughable campaign platitude.

Paul does not explicitly propose forcing a government shut down. Instead of raising the debt ceiling, Paul suggests restructuring all government spending to match revenues with no additional debt assumed by the Treasury.

I have two simple proposals when the new Congress convenes in January. First, refuse to raise the debt ceiling. Find a way, month by month, for Congress to spend only what the Treasury raises in revenue. Second, start over from scratch with the 13 appropriations bills that fund the federal government. Reject any talk of baseline budgets or discretionary spending. It is all discretionary, and members of both parties should vote against any 2012 appropriation bill that is not at least 10% smaller– in nominal dollars– than its 2011 counterpart.

The Republican leadership has indicated that they will likely bite their tongues and tell their members to support raising the debt cap when it next comes up for a vote. “Whether we like it or not, the federal government has obligations and we have obligations on our part,” House Speaker-elect John Boehner (R-Ohio) said two weeks ago.

But much like an internal party vote on banning earmarks split the Senate caucus earlier this month, the debt ceiling is shaping to be a potential fissure between traditional Republican legislators and the empowered tea party faction that gained prominence after the midterm elections. Many of the new members of Congress frequently hammered their Democratic opponents for voting to raise the limit on the campaign trail, so it may prove difficult for them to turn around and increase the ceiling so quickly after taking office.

What happens if the Republican House refuses to raise the debt ceiling? Potential economic catastrophe for the United States’ slow-growing economic recovery, according to Slate. The current debt limit would result in a government shut down, forcing the Obama administration to reduce government output in a drastic and rapid manner, removing resources currently fueling economic growth. There would also be havoc on the bond market, and the intransigence of Congress would indicate to international investors that the United States may be unable to meet its future debt obligations.