Bush Signs Bill to Raise National Debt
From Times Wire Reports
With no fanfare, President Bush signed legislation pushing the ceiling on the national debt to nearly $9 trillion.
The measure allows the government to borrow an additional $781 billion and prevent a first-ever default on Treasury notes. It also lets the government pay for the war in Iraq without raising taxes.
The debt limit increase was the fourth of Bush’s presidency, totaling $3 trillion in deficit spending.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
