Washington (CNN) -- In a symbolic vote to send a message to budget negotiators, the House on Tuesday defeated a measure to raise the national debt ceiling without any accompanying deficit or spending reduction provisions.
The Republican-controlled House voted 318-97 on the legislation that would have raised the federal government's debt limit by approximately $2.4 trillion.
Under rules for the vote set by the GOP leadership, the measure needed at least two-thirds support to pass, ensuring it had no chance for approval.
The vote was scheduled by Republican leaders to show that any attempt to divorce an increase in the debt ceiling from spending reduction efforts -- a move initially favored by the Obama White House -- cannot win congressional approval.
Democrats called the move a dangerous political stunt that could rattle financial markets.
"We understand the views that are being expressed" by the vote, White House Press Secretary Jay Carney told reporters before the vote. "We share the concerns that drive those views. (But) in the end, the debt ceiling has to be raised."
President Barack Obama is scheduled to meet with congressional Republicans on Wednesday as part of the administration's ongoing debt-ceiling and related budget negotiations. Vice President Joe Biden has been holding similar talks with a bipartisan congressional delegation in recent weeks.
The federal government hit its current debt ceiling limit of roughly $14.3 trillion on May 16. Treasury Secretary Tim Geithner has indicated he can keep the country out of default until August 2, but warned of potentially devastating financial consequences after that point.
Numerous analysts say that a failure to reach an agreement raising the debt limit could lead to skyrocketing interest rates, a plummeting dollar and a higher cost of living for most Americans.