(in public finance) the legal maximum debt permitted a municipal, state, or national government.
- Also called debt ceiling .
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use debt limit in a sentence
Congress is in full-on chaos mode right now, with the future of infrastructure, government funding, the debt limit and voting rights all uncertain.
If it doesn’t raise the debt limit, the government won’t be able to pay its bills come October.Democrats Are Holding America Hostage, and Trying to Blame the GOP | Matt Lewis | September 27, 2021 | The Daily Beast
Since then, there have been pretty regular fights over the debt limit that often take the Treasury Department to the very end of its means.
Another way, suggested by Georgetown law professor David Super, would be to use reconciliation to pass something by simple majority tying the debt limit to whatever is needed to cover the national debt at any given moment, effectively nullifying it.Kill the debt limit now, Democrats. If you don’t, here’s what will happen. | Greg Sargent | September 22, 2021 | Washington Post
So they are asking the GOP to please join them in raising the debt limit to give them more time.The Republicans want no part of a debt ceiling hike. Good for them. | Hugh Hewitt | September 22, 2021 | Washington Post
The last time the debt limit was raised, this past February, Boehner agreed in the end to do it with no strings attached.
For now, the debt limit is off the table as a “negotiating” tool.
Caving on the debt limit in 2011 was the political low point of his presidency.
The House Speaker needs to raise the debt limit, but still thinks that he can get some kind of concession from Democrats.
The Senate is expected to approve the clean debt limit increase on Wednesday morning.House Passes Clean Debt Ceiling Extension With Limited GOP Support | Ben Jacobs | February 11, 2014 | THE DAILY BEAST
The debt limit is usually a certain percentage of the assessed valuation of the taxable property within the city.Government in the United States | James Wilford Garner
Unless budgeted deficits are checked, the momentum of past programs will force an increase of the statutory debt limit.
Its debt limit is 2% on the assessed valuation, and even that low maximum is not often reached.
We could have a state constitution, too, which would extend the debt limit so that we could issue a whole lot more bonds.Plunkitt of Tammany Hall | George Washington Plunkitt