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HippoCampus U.S. History & Government 8 Online
OpenStudy (anonymous):

What is the debt ceiling?

OpenStudy (wwhitlock):

A debt ceiling is the highest amount of debt allowed. Credit cards have them. The US federal government currently does not.

OpenStudy (sf-apgov24):

Although they may act like it doesn't exist, Congress HAS established a debt ceiling, however every time the debt gets close to it, they increase it. Imagine if credit card companies allowed that!

OpenStudy (wwhitlock):

In the most recent vote, Congress removed the debt ceiling. President Obama can rack up whatever debt he wants. Imagine if credit card companies did THAT.

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