Debt ceiling

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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.
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Under the potential package, the GOP would agree to most of President Clinton's request for additional domestic spending this year and to an increase in the national debt ceiling.
14, 2011 /PRNewswire-USNewswire/ --The following is being released by Works of Life International Ministries -- Last Tuesday President Obama signed a bill to raise the national borrowing limit just hours after the Senate voted 74-26 to pass the deal that proposes massive government spending cuts along with raising the national debt ceiling through 2012.
The Republican leadership in Congress has expressed doubt about the need to raise the national debt ceiling, claiming that Geithner is exaggerating the danger.
Where Republicans had regularly done their best to block increases in the national debt ceiling when sought by a Democrat president, most caved in when Ronald Reagan wanted it raised.
The Stenholm amendment, HJ Res 290, would have required that total spending not exceed total revenues, the President to submit a balanced budget, a three-fifths majority in each House on any bill or amendment which would cause a deficit, and a three-fifths majority in each House to increase the national debt ceiling.
11, 2011 /PRNewswire/ -- A new online national political survey of Americans over 50 finds a plummeting decline in confidence in the economy, the markets and Washington, particularly over the recent increase in the national debt ceiling.
government would risk damaging its credit worthiness if it doesn't agree to raise the national debt ceiling past $14.
38 trillion, Congress passed, and the president signed into law, legislation raising the national debt ceiling to $8.
One of the first votes that I cast on coming to the Senate in 1981 was on whether to raise the national debt ceiling to over $1 trillion.
Coverage of the need to raise the national debt ceiling was a factor in the decline, but a detailed analysis shows a substantial number of reports on problems beyond the Beltway.
Mortgage rates inched up this week as investors were worried by political gridlock over how to raise the national debt ceiling and cut the deficit.
WASHINGTON, July 28, 2011 /PRNewswire-USNewswire/ -- Should Congress fail to raise the national debt ceiling by Aug.

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