Obama signs debt-cap suspension into law

|By:, SA News Editor

President Barack Obama has signed into law a bill that suspends the debt until March 16, 2015 after Congress approved the measure last week.

The legislation will probably delay the need for further Congressional action on the ceiling until mid-2015, as income-tax payments are expected to give the government more time until it runs out of cash after the new cap expires.

Obama also signed a bill that scales back benefit reductions for military veterans.