The debt ceiling is:
A)the maximum amount Congress lets the government borrow.
B)the shortfall that occurs when expenses are higher than revenue over a given period of time.
C)the overage that occurs when revenue is higher than expenses over a given period of time.
D)the total amount of money within the national economy.

Question

Quizplus · Accepted Answer

The debt ceiling is the maximum amount of money that the United States government is allowed to borrow, as determined by Congress. When the debt reaches this ceiling, the government must either cut its spending or raise the debt limit to continue borrowing.

The Debt Ceiling Is