The amount of national debt that can be issued by the Treasury is referred to as
A)sequestration.
B)the fiscal gap.
C)the treasury cap.
D)the debt ceiling.

Question

Quizplus · Accepted Answer

The correct term for the amount of national debt that can be issued by the Treasury is the debt ceiling. The debt ceiling is a legal limit on the amount of national debt that the US government can incur, and it is set by Congress. Once the debt ceiling is reached, the Treasury cannot issue any more debt without Congress raising the limit.

The Amount of National Debt That Can Be Issued by the Treasury