şŁ˝Ç´óÉń

This page is rendered using the default Netgen Site API pagelayout template.

This block is rendered using the default Netgen Site API full view template.

What is a debt ceiling, exactly, and how high is it now?

ID
742329
Location ID
759881
Current version
3
Content type
csm_list_article_item

Fields

1. Headline
ID
17167067
Field definition ID
1319
Identifier
headline
Field type identifier
ezstring
Description
[empty]
Contents
What is a debt ceiling, exactly, and how high is it now?
2. SEO Title
ID
23240052
Field definition ID
1800
Identifier
seo_title
Field type identifier
ezstring
Description
[empty]
Contents
[empty]
3. Body
ID
17167069
Field definition ID
1320
Identifier
body
Field type identifier
ezxmltext
Description
[empty]
Contents

It’s a Congress-imposed cap on the amount of money the US Treasury can borrow from two sources. The first is “debt held by the public,” mainly Treasury bonds owned by investors in the US or in other nations. The second is “intragovernment” debt, which happens when the Treasury borrows from another government account that has a surplus, such as Social Security.

Since May, the debt limit has been set at $16.7 trillion.

Borrowing is needed when there aren’t enough tax revenues to cover all federal spending. And for decades, the trend has been that Congress arranges for the government to spend more than it takes in as tax revenue. Budget surpluses have been rare.

In September the Department warned that another hike is needed or the Treasury won’t have funds to cover all Congress-ordained spending.

4. Media (Image or video)
ID
17167071
Field definition ID
1321
Identifier
media
Field type identifier
ezobjectrelationlist
Description
[empty]
Contents
5. Related links
ID
17167073
Field definition ID
1323
Identifier
related_external_links
Field type identifier
ezmatrix
Description
NOTE: Related links will show only on the last list item in the list. Do not add related links to other list items.
Contents
[empty]
6. Bottom Blue Box (former Info box & Fact box)
ID
17167075
Field definition ID
1325
Identifier
sidebar_info_box
Field type identifier
ezxmltext
Description
The contents will be displayed just below the page navigation button.
Contents
[empty]
7. Page URL name
ID
17167077
Field definition ID
1326
Identifier
page_url_name
Field type identifier
ezstring
Description
[empty]
Contents
[empty]
8. Page Title
ID
17167079
Field definition ID
1328
Identifier
page_title
Field type identifier
ezstring
Description
[empty]
Contents
[empty]
9. Metadata
ID
17167081
Field definition ID
1415
Identifier
metadata
Field type identifier
ezmatrix
Description
[empty]
Contents
[empty]