National Debt Limit Is Suspended Until February
Submitted by Maura Donley on Wed, 10/23/2013 - 12:51pmThe General Assembly’s vote to reduce the debt of a capital projects program is even more commendable considering what happened to the national debt limit – nothing. After weeks of political stalemate between President Obama and a polarized Congress, the federal government now has no debt limit until the arbitrary date of February 7. Whatever our debt rises to above $16.7 trillion, the last approved debt limit, that’s where it will stay until Congress votes to either raise or lower it, according to fiscal experts.