United States debt ceiling
is a legislative limit on the amount of debt that the United States government can incur.
Here are the Top 7 facts about United States debt ceiling 2023
1. The debt ceiling was first established in 1917, with the Second Liberty Bond Act.
2. The debt ceiling was raised multiple times under the Obama Administration.
3. The debt ceiling was temporarily suspended again from 2018 to 2019.
4. In 2019, the debt ceiling was raised to $22 trillion.
5. The United States debt ceiling is the maximum amount of money that the federal government is authorized to borrow.
6. The debt ceiling is set by Congress and has been periodically raised throughout history.
7. The debt ceiling has been a source of political debate and has led to government shutdowns in the past