U.S. law regarding the debt ceiling states that:
A) debt can never exceed GDP.
B) the U.S. Treasury Department can borrow as needed based on the national budget.
C) government borrowing in any one year cannot exceed 10% of that year's expenditures.
D) the U.S. Congress sets the maximum amount of debt that the country can have at a point in time.
Correct Answer:
Verified
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