Get Ready For Another Debt Limit Fight
President Obama is asking Congress to raise the debt limit by $1.2 trillion so we can pay our bills.
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.
The move by the Democratic president, who is seeking re-election in November, gives Congress 15 days to vote on a resolution of disapproval under terms of budget control legislation passed last year.
The votes don’t exist to stop the raise, but it will be used by Republicans to bash the president and play p0litics.Click here for reuse options!
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