Gibbs: Obama Will Sign PAYGO, Debt Ceiling Increase Today

President Barack Obama
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White House Press Secretary Robert Gibbs told reporters this afternoon that President Obama will sign a bill raising the debt ceiling and instituting PAYGO today.

Gibbs did not say whether the signing would be open to the press.

The legislation will raise the government’s debt limit $1.9 trillion, to $14.3 trillion. It also re-institutes PAYGO, which requires that all legislation be paid for, either through tax increases or spending cuts.

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