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United States Financial: Debt Ceiling

Description of the "Debt Ceiling" and how it affects the U.S People

What Is The U.S Debt Ceiling?

A debt limit is a legislative mechanism restricting the total amount that a country can borrow or how much debt it can be permitted to take on.

 

Usually this is measured as percentage of GDP. A handful of countries have debt limitation laws in place. Among the more famous cases is the United States debt ceiling but there are several other countries that have debt limits