The new spending deal that resigning House Speaker John Boehner has made with the Democratic congressional leadership and President Barack Obama will suspend the legal limit on the federal government’s debt until after Obama leaves office.
“Subsection 901(a) provides for the temporary suspension of the limit on public debt through March 15, 2017,” says the official summary of the bill.
Obama will leave office on Jan. 20, 2017, when the next president is inaugurated.
Since Obama took office, the total debt of the federal government has already increased by $7,525,761,885,381.30—rising from $10,626,877,048,913.08 on Jan. 20, 2009 to $18,152,638,934,294.38 on Oct. 23, 2015.
http://cnsnews.com/news/article/terence-p-jeffrey/boehner-agrees-suspend-debt-limit-rest-obamas-term
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