DEBT CEILING
The maximum amount of monies the United States can borrow. The debt ceiling was created under the Second Liberty Bond Act of 1917, putting a "ceiling" on the amount of bonds the United States can issue. As of the end of July, 2011 the debt ceiling was set at $14.3 trillion. It was created under the Second Liberty Bond Act of 1917 and it states there the maximum amount of money that the United States can borrow. Also known as the "debt limit" or "statutory debt limit." There has been controversy over whether the debt ceiling is constitutional. According to the 14th Amendment of the Constitution, "The validity of the public debt of the United States, authorized by law shall not be questioned." The majority of democratic countries do not have a debt ceiling, with the United States being one of the exceptions.
POPULAR TERMS
Council of Economic Advisors - CEA
Branch Office
Rump
Catalyst
Federal Subsidy Recapture
POPULAR ARTICLE
SEE FOREX TUTORIAL
Buying a Home: Selecting a House Suitable for Your Needs
Buying a Home: Getting Into the Escrow Process
Digesting Financial Statements: Cash Flow
An Introduction to Forex
Retirement Planning: The Significance of Retirement
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 11:00 | Ifo Business Climate Index | Jan | |
| 11:00 | Ifo Current Assessment | Jan | |
| 11:00 | IFO - Expectations | Jan | |
| 15:30 | Durable Goods Orders | Nov | |
| 16:00 | NBB Business Climate | Jan | |
| 01:50 | Corporate Service Price Index | Dec | |
| 02:01 | BRC Shop Price Index | Jan | |
| 02:30 | NAB Business Confidence | Dec | |
| 04:00 | Credit Card Spending | Dec |
