Obama will ask Congress for $1.2 trillion debt-limit increase

12/28/2011 | New York Times (tiered subscription model), The

White House officials said U.S. President Barack Obama will send a request to Congress this week to raise the national debt limit by $1.2 trillion, to $16.4 trillion. If the proposal is approved, it will eliminate the need for further debt-limit legislation before 2012 elections, they said.

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New York Times (tiered subscription model), The

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