- Infowars - http://www.infowars.com -

Obama Signs Law Raising Public Debt Limit from $12.4 Trillion to $14.3 Trillion

Posted By admin On February 13, 2010 @ 3:36 pm In Economic Crisis,Old Infowars Posts Style | Comments Disabled

Jack Tapper
ABC News
February 13, 2010

[efoods]Behind closed doors and with no cameras present, President Obama signed into law Friday afternoon the bill raising the public debt limit from $12.394 trillion to $14.294 trillion.

The current national debt is $12.3 trillion. Check out the National Debt Clock, which tells you your share of that — roughly $40,000 per citizen, $113,000 per taxpayer.

The bill also establishes a statutory Pay-As-You-Go procedure requiring that new non-emergency legislation affecting tax revenue or mandatory spending not increase the Federal deficit – in other words, that any new spending or tax cuts be paid for with new taxes or spending cuts.

Article printed from Infowars: http://www.infowars.com

URL to article: http://www.infowars.com/obama-signs-law-raising-public-debt-limit-from-12-4-trillion-to-14-3-trillion/

Copyright © 2015 Infowars. All rights reserved.