The Nation - News from Oct. 22, 1986
- Share via
President Reagan, expressing disappointment at Congress’ reluctance to cut spending, signed legislation to increase the national debt ceiling to $2.3 trillion and shrink the federal budget deficit by $11.7 billion. The measure authorizes a $189-billion hike in the debt ceiling, which has more than doubled during Reagan’s Administration. It will allow the government to continue borrowing through May 15.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox twice per week.
You may occasionally receive promotional content from the Los Angeles Times.
