The limit on the amount the government is permitted to borrow is also referred to as

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The limit on the amount the government is permitted to borrow is referred to as the debt ceiling. It specifies the maximum amount of money the government can borrow to finance its obligations and expenditures. Once the government reaches this limit, it must either reduce spending to balance the budget or raise the limit by passing legislation.

The Limit on the Amount the Government Is Permitted to Borrow