President Barack Obama has signed legislation that increases the national debt limit by $1.9 trillion. The total public debt will reach $14.294 trillion. Oddly enough, no cameras or special guests were in attendance during the signing.

Then there’s this:

The bill also establishes a statutory Pay-As-You-Go procedure requiring that new non-emergency legislation affecting tax revenue or mandatory spending not increase the Federal deficit – in other words, that any new spending or tax cuts be paid for with new taxes or spending cuts.

In other words, expect tax increases. Because there’s no way in hell Democrats will cut spending outside of national defense. Obama’s already talking about raising taxes on the middle class, in direct violation of his campaign promises.