Thanks to Congress, the U.S. now doesn’t have a debt limit for the next year. Let two Heritage experts put this into perspective.
“President Obama, after less than five years in office, has already increased the debt limit by more than any other president in U.S. history, including President George W. Bush over eight years in office,” report Romina Boccia and Michael Sargent, authors of the newly updated Federal Budget in Pictures.
For the next year, now that Congress has given Obama a blank check, we’ll be following the borrowing and the spending and all the debt Washington is piling on Americans. The national debt, at $17.3 trillion, already exceeds $140,000 per household.
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