John Adams 1826
We are talking trillions here and President Obama’s answer is a Fiscal Cliff Offer that Includes Unlimited Executive Power to Raise Debt Ceiling.
He also had in his opening offer in 'fiscal cliff' talks to include $255 billion in stimulus spending – tax cuts, incentives, and more. It could be a bargaining ploy or a bid to offset rising taxes on the rich. The stimulus didn’t work on the first go round so Obama wants to try it again.
Statutory debt limit 16,394,000
Total public debt outstanding Nov. 29