Susan Walsh, ASSOCIATED PRESS
RANCHO MIRAGE, Calif. — President Barack Obama has signed separate measures lifting the federal debt limit and restoring full cost of living benefits for military retirees.
Obama signed the bills into law Saturday during a weekend golf vacation in Southern California.
The debt limit measure frees the government to borrow the money it needs to pay bills, such as Social Security benefits.
Failure to pass it most likely would have sent the stock market into a dive.
Separate legislation passed in December would have held annual cost of living increases for certain veterans to 1 percentage point below the rate of inflation. The measure was an attempt to hold the line on the soaring costs of government benefit programs. Veterans groups and some lawmakers said cutting the benefits was a mistake.
- Consumer group lists '10 worst toys' for kids
- 'Mockingjay, Part 1' opens with $123 million
- Winners and losers under Obama's immigration...
- Evacuation plans readied as Buffalo flooding...
- Under pressure, Hagel steps as Pentagon chief
- Obama: Americans want 'new car smell' in 2016
- Q&A with President Henry B. Eyring, Elder L....
- Cleanup on, flood threat looms after huge NY...
- President Obama's immigration reforms... 65
- Utah members of Congress slam Obama's... 56
- Pastors opposed to same-sex marriage... 39
- Fact check: Obama's claims on illegal... 18
- Winners and losers under Obama's... 17
- President Obama's immigration speech... 14
- Boehner: 'We will not stand idle' on... 14
- Is saying the Pledge of Allegiance... 14