But Codey, a former governor, told Hannity that Obama isn’t the first president to increase the federal debt limit.

"But Sean, every president has raised the debt ceiling," Codey said. "George Bush did it seven times."

PolitiFact New Jersey took a look at the nation’s history of borrowing money and discovered that Codey was mostly right. Since an overall limit on most federal debt was first set up in 1939, the debt ceiling went up during every presidency with the sole exception of former President Harry S. Truman’s.