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IPFS News Link • Economy - Economics USA

Obama seeks $1.2 trillion debt limit rise

• Reuters
[It's still unpatriotic:]

President Barack Obama formally notified Congress on Thursday that he plans a $1.2 trillion increase in the U.S. debt limit, prompting Republicans to level election-year charges that deficits are out of control.

Obama, in a one-sentence letter to House of Representatives Speaker John Boehner, the top Republican in Congress, said "further borrowing is required to meet existing commitments."

The proposed increase would push the debt ceiling to $16.394 trillion.

1 Comments in Response to

Comment by Alan Gaudette
Entered on:

Obama, What is it about no that you do not understand