3,882
edits
2023 United States debt-ceiling crisis: Difference between revisions
2023 United States debt-ceiling crisis (view source)
Revision as of 19:57, 23 May 2023
, 23 May 2023no edit summary
No edit summary |
No edit summary |
||
| Line 3: | Line 3: | ||
The debt ceiling was first enacted in 1917 through the Second Liberty Bond Act and was set at $11.5 billion to simplify the process and enhance borrowing flexibility. In 1939, Congress created the first aggregate debt limit covering nearly all government debt and set it at $45 billion, about 10 percent above total debt at the time.Since the end of World War II, Congress and the President have modified the debt ceiling more than 100 times, according to the Congressional | The debt ceiling was first enacted in 1917 through the Second Liberty Bond Act and was set at $11.5 billion to simplify the process and enhance borrowing flexibility. In 1939, Congress created the first aggregate debt limit covering nearly all government debt and set it at $45 billion, about 10 percent above total debt at the time.Since the end of World War II, Congress and the President have modified the debt ceiling more than 100 times, according to the Congressional | ||
Research Service. | |||
Research Service. | [[File:Screenshot 2023-05-23 135549.png|center|thumb|635x635px|https://www.crfb.org/papers/qa-everything-you-should-know-about-debt-ceiling#how%20bad]] | ||
=== Extraordinary Mesuares === | === Extraordinary Mesuares === | ||