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.
Your share of that is roughly $40,000 per citizen and $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.
Don’t look for spending cuts. It will be new taxes instead.
Link
A picture of my cave
..
..
