debt limit

noun

1. (in public finance) the legal maximum debt permitted a municipal, state, or national government.

Example Sentences

Lifting the debt limit allows the government to pay for programmes already approved by Congress.

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Treasury Secretary Scott Bessent has urged Congress to address the debt limit by mid-July and warned if they do not, the US could be unable to pay its bills as early as August.

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Paul has said he opposes the bill because it raises the US debt limit.

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And, third, any policy passed through budget reconciliation must directly affect federal spending, revenue, or the debt limit.

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The federal debt limit will pose one of Bessent's biggest challenges.

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