Obama seeks $1.2 trillion increase in national debt ceiling, to pay for more wasteful spending

posted by
January 17, 2012
by Hans Bader  
Posted in Commentary

"President Obama formally notified Congress on Thursday of his intent to raise the nation’s debt ceiling by $1.2 trillion. Congress will have 15 days to say no before the nation’s debt ceiling automatically is raised from $15.2 trillion to $16.4 trillion. The debt ceiling would not need to be raised to this level if Obama had simply lived up to his 2008 claim that he would cut spending if elected." (01/17/12)



Our Sponsors