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About: United States debt ceiling     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Transaction101106808, within Data Space : dbpedia.org associated with source document(s)

Type: streamyago:Abstraction100002137yago:Act100030358yago:Commerce101090446yago:CommercialEnterprise101094725yago:Event100029378yago:Finance101098698yago:GroupAction101080366yago:PsychologicalFeature100023100yago:WikicatGovernmentFinancesInTheUnitedStatesyago:YagoPermanentlyLocatedEntityyago:Transaction101106808 New Facet based on Instances of this Class

The United States 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 on the debt they already borrowed. The debt ceiling is an aggregate figure that applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts. About 0.5% of debt is not covered by the ceiling. Because expenditures are authorized by separate legislation, the debt ceiling does not directly limit government deficits. In effect, it can only restrain the Treasury from paying for expenditures and other financial obligations after the limit has been reached, but which have already been approved (in the budget) and appropriated.