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