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.
References in periodicals archive ?
Just prior to going into recess for August, the Senate on Thursday passed an American Bankers Association-opposed bill that would significantly raise the current debt limit for Chapter 12 bankruptcy filings.
The statutory debt limit applies to almost all federal debt.
325, a measure to suspend the debt limit until May 19, 2013.
The 2011 debt limit episode, during the 112th Congress, was resolved on August 2, 2011, when President Obama signed into law the Budget Control Act of 2011 (BCA; S.
Debt limits appear to influence state borrowing costs.
These results suggest lenders in financial market view states with debt limits as less risky, lowering the interest rate risk premium.
(1991) "The Effects of Constitutional Debt Limits on State Government's Use of Public Authorities." Public Choice 68 (1-3): 57-69.
ENPNewswire-July 26, 2019--ABA Opposes Debt Limit Change for Chapter 12 Bankruptcies
Release date- 25072019 - The American Bankers Association today urged lawmakers not to vote for a bill that would significantly raise the current debt limit for Chapter 12 bankruptcy filings.
2336-which would raise the debt limit from approximately $4.3 million to $10 million-could ultimately increase the cost of borrowing for farmers and ranchers and reduce the overall availability of credit.
the statutory federal debt limit has been changed 53 times by Congress
through the enactment of legislation adjusting the federal debt limit,