Debt ceiling


Also found in: Dictionary, Thesaurus, Legal.

Debt ceiling

Debt Ceiling

The maximum amount that a government can borrow. The term especially applies to municipalities; rising above the debt ceiling may trigger a reduction it a municipality's credit rating. Cities and other local governments that are near the debt limit may issue participation certificates--a right to the receivables for a certain project--instead of direct debt. The United States also has a national debt ceiling, but Congress simply raises it every time the national debt approaches the ceiling.
References in periodicals archive ?
That's why it's important for Congress to reopen the government, to raise the debt ceiling and then to work with the president (Barack Obama) to address our fiscal challenges in a balanced fashion.
To me, we're into the debt ceiling fight now," he said.
Republican House Speaker John Boehner vowed on Sunday that there was "no way" Republican lawmakers would agree to a measure to raise the debt ceiling unless it included conditions to rein in deficit spending.
If Congress and President Obama cannot come to an agreement that would raise the debt ceiling before that threshold is reached, the United States may technically default on its debt, an event that has never before happened.
As a way to call President Barack Obama's bluff and force the hands of the Democrats, House Republicans are planning to tie the debt ceiling and the need to negotiate to major policy priorities.
Overall, Americans are more likely to disapprove than approve of the debt ceiling agreement, by a 46% to 39% margin, with Republicans (64%) and independents (50%) most likely to disapprove, while a majority of Democrats (58%) favor it.
Using the platinum coin to overcome the debt ceiling turns this on its head.
Frankly, no one knows what legislative deal will be struck to raise the debt ceiling.
Without a deal to raise the debt ceiling the US would be unable to meet all its bills, according to the US treasury department, and it would have caused a devastating default.
The bill, which would increase the debt ceiling by at least $2.
3 trillion debt ceiling, which caps the amount Washington can borrow, is not raised by August 2.
stocks will be hard pressed to turn the tide of recent selling this week as political jousting over raising the United States' debt ceiling intensifies.