Obama Signs Debt Suspension Bill
By: Big 2 News Staff
Updated: February 5, 2013
President Obama signed legislation today extending the federal government's ability to borrow new money through mid May.
The measure suspends Washington's 16.4 trillion dollar debt ceiling until mid-May.
Some budget analysts estimate it will give the Treasury the ability to meet all federal spending obligations through at least the end of July.
In exchange for temporarily suspending the debt ceiling, the bill requires lawmakers in both chambers of Congress to pass a budget by mid-April... or have their pay withheld.
