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Obama Signs The Debt Ceiling Bill, Officially Ending The Debt-Limit Fight Until At Least August

Obama Signs The Debt Ceiling Bill, Officially Ending The Debt-Limit Fight Until At Least August

Brett LoGiurato | Feb. 4, 2013 | 7:37PM

President Barack Obama signed the "No Budget, No Pay Act of 2013" into law Monday night, the White House said, officially suspending the nation's debt limit through May 18. The bill also suspends pay for members of Congress if their chamber does not pass a budget resolution by April 15.

The Senate had passed the debt ceiling bill last week, and the House passed it the week before. The two chambers passed the bill along different lines. The House saw fairly strong bipartisan support for the bill. But in the Senate, it passed largely on partisan lines. Republican Senators said they voted against it because of a lack of spending cuts that accompanied the debt-limit increase

Read more: http://www.businessinsider.com/obama-signs-debt-ceiling-bill...



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