From ABC News:
President Obama Signs Law Raising Public Debt Limit from $12.4 Trillion to $14.3 TrillionThe only Hope I am feeling right now is that he doesn't bankrupt this Nation before he has his royal Kenyan ass handed to him in 2012.
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.
What a great line "The only Hope I am feeling right now is that he doesn't bankrupt this Nation before he has his royal Kenyan ass handed to him in 2012."