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It doesn't expire. There is a law passed by Congress in 1917 which allows the executive branch, specifically the U.S. Treasury, to borrow money as necessary, provided that the total amount borrowed remains within a limit set by Congress.
Currently (July 2011), that limit is set at $14.3 trillion. The Treasury is saying that they will need to borrow more than that within a few weeks. (It's difficult to determine exactlywhen the limit will be exceeded).
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∙ 12y ago
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What is a debt ceiling?
Debt ceiling is the limit on how much money the US Federal government can owe.
What is name of us governments limit on borrowing?
The debt ceiling
Does credit card debt expire?
Credit card debt does not expire. If collection for the debt becomes a liability, then the creditor can write off the debt as a total loss or warrant a reposession of property, but the debt itself will never expire on its own.
Was the debt ceiling raised in 2011?
"The debt ceiling was in fact raised by $2.1 trillion dollars. While the plan doesn't include raising taxes, it does include cutting the federal budget deficit by $2.5 trillion over the next decade."
What president did not raise the debt ceiling?
The President cannot raise the debt ceiling. It is set by Congress.
How many times has the debt ceiling been raised since the inception of the debt ceiling?
102 times
What president raised the debt ceiling most?
The President cannot raise the debt ceiling. It is set by Congress.
Can you give me a sentence debt ceiling?
A debt ceiling can be described as the maximum limit that company, organization, or government agency can afford to incur debt. Example sentence: My personal debt ceiling is around a thousand dollars.
The largest proportion of the public debt is held by?
U.S. public (individuals, businesses, financial institutions, etc.) and state and local governments. The ulk of the public debt is owned by the U.S. citizens and institutions. The portion of public debt held outside Federal agencies and the Federal Reserve is substantially larger than the portion held by Federal Agencies and the Federal Reserve.
How many times has Obama raised the national debt ceiling?
The President cannot raise the debt ceiling. Only Congress can do that.
When does a Deed to Secure Debt expire Georgia?
It will expire in 7 years if there is no 20 year clause.
What is the United States debt ceiling?
The United States debt ceiling is a debate about government spending and debt. It discusses putting limits on the amount of debt the government can be in at any time and how much money the government can spend.
