Obama Raises Debt Ceiling...How Much Is $14.3 Trillion?

Obama Raises Debt Ceiling
February 13, 2010

U.S. President Barack Obama has signed a law that will allow the U.S. to borrow nearly $2 trillion more than before.

The president signed the bill Friday night at the White House with little public fanfare.

The maximum debt the U.S. can carry is now $14.3 trillion. The U.S. was already poised to exceed the previous maximum.

The change comes at a time when the American public is increasingly concerned about the government deficits.

In an attempt calm those fears, the bill also included a "pay-as-you-go" provision. Originally enacted in the 1990s under then President Bill Clinton, the law requires any new spending or tax cut to be offset by tax increases or spending cuts elsewhere.

In his weekly radio and Internet address Saturday, Mr. Obama praised the "pay-as-you-go" law, saying it was how a "responsible family or business" manages money.

Mr. Obama used his address to blame the current debt and deficits on the previous administration of U.S. president George W. Bush and the U.S. congress during his tenure. He said they ignored the "common sense rule" of pay-as-you-go and passed tax cuts and created a drug program without paying for it.

Category:

News & Politics

Tags:

• Obama
• Socialist
• Democrat
• Republican
• Bankrupt
• Policies
• Incompetent
• USA
• America
• Taxes
• Deficit
• Spending
• Debt
• Ceiling
• 14
• Trillion
• Big
• Government
• Communism
• Fascism
• NWO
• Truthers
• 911Liberals
• Leftists
• Communists
• Duty
• Honor
• Liberty
• Freedom
• lookhearsee

[JoePella]

There is nothing like a good illustration to make a point.

[smoothsk8r44]

great vid

[TheXStephen1]

I would say that trillion bill is fake!

[bobbysaysyo]

@cobrompton Exactly. Republicans raised the debt ceiling with no problem during Bush like 20 times.

[cobrompton]

Not Obama's fault.

[ComputerGeekFL]

America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.

[SolidBPlus]

Pink Floyd... Money. It's a good track for this vid.

[zlIWCARIlz]

@blackelk7373 You are truly an ungrateful, ignorant piece of shit aren't you? Not everything of importance is necessarily hard to do. I don't care how easy it might be to do something, if it's vital to the nation's security (meaning yours as well) then I would take it more seriously. Not that my job is all that easy anyway. Well, I'm done talking to you, child. Have a nice life.

[blackelk7373]

@zlIWCARIlz Hmm you were guarding a resource that protects my ass from getting nuked by other countries? Wow that must have been a real challenging day for you. Sounds like it took alot of skill and effort..... hahahahaha What a waste of my tax dollars.Fucking leach

[zlIWCARIlz]

@blackelk7373 your ass from getting nuked by hostile countries. Not terrorizing Muslims. Don't just assume you know shit about the military and what we do.

[zlIWCARIlz]

@blackelk7373 Your wild assumptions amuse me. What makes you think I had no other option? I'm extremely smart and could have gone to many colleges of my choice, however, I love my country and wanted to do my part and defend it instead of go on the internet blaspheming. Last time I checked, the military was a job. I get paid don't I? Oh and kudos to you for working 12 HOURS. I guess that's supposed to impress me when I worked 14 hours the same day and I was actually guard a resource that protects