Statement by the Press Secretary on H.J. Res. 45
On Friday, February 12, 2010, the President signed into law:
H.J. Res. 45, the Statutory Pay-As-You-Go Act of 2010, which increases the public debt limit from $12.394 trillion to $14.294 trillion; and 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.
Barack Obama, Statement by the Press Secretary on H.J. Res. 45 Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/292617