How do you grow the economy by spending in Washington?

By Brett Winterble


President Obama has signed the budget deal passed by Congress last week that raises the debt ceiling into March 2017 and lifts spending limits through September 2017.

“Last week, Democrats and Republicans came together to set up a responsible long-term budget process. What we now see is a budget that reflects our values, grows our economy, creates jobs and keeps America safe,” Mr. Obama said from the Oval Office. “It should finally free us from the cycle of shutdown threats and last-minute fixes.”

The deal emerged a week ago after weeks of secret negotiations between congressional leaders from the House and Senate and senior Obama administration officials.

It lifts domestic and Pentagon spending caps equally for the next two fiscal years by $80 billion and it raises the debt limit through March 15, 2017.

The Treasury Department had set Nov. 3 — Tuesday — as the deadline for Congress to deal with the debt ceiling or risk a default.

Follow AM 760’s Brett Winterble on how the president knows his term is up and he has no problem running up the national debt with no consequences whatsoever.

For more on the story via CBS News, click here.

Part 1

Part 2