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Raising the debt ceiling, Yellen testified, is "necessary to avert a catastrophic event for our economy." Here's a primer on the debt ceiling and examples of the possible consequences if the ...
In the United States, the debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may pay by borrowing more money, on the debt it already borrowed. The debt ceiling is an aggregate figure that applies to gross debt, which ...
The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to those it borrowed from and dole out money for everything from ...
The White House and congressional Democrats continue to look at their options to avoid a looming financial crisis as Republicans so far refuse a clean raising of the debt ceiling.
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
Sometimes Congress raises the debt ceiling quietly, and sometimes lawmakers use the occasion to engage in a noisy debate over fiscal policy before raising the cap at the last possible moment.
The history of the United States debt ceiling deals with movements in the United States debt ceiling since it was created in 1917. Management of the United States public debt is an important part of the macroeconomics of the United States economy and finance system, and the debt ceiling is a limitation on the federal government's ability to manage the economy and finance system.
The current debate in the nation's capital over whether to increase the federal debt ceiling might sound like so much partisan bickering to the average American, but the way it plays out could ...