Download or read book Debt Limit written by D. A. Austin and published by DIANE Publishing. This book was released on 2010-06 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses how the total debt of the federal government can increase, a historical overview of debt limits, and how the current economic slowdown has led to higher deficits and thereby a series of debt limit increases, as well as legislation related to these increases.

Download or read book Debt Limit Increase Savings and Loan Cost written by United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management and published by . This book was released on 1991 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Increase the Public Debt Limit written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1958 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Debt Ceiling Increase written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1958 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Debt Ceiling Increase written by United States. Congress. Senate. Finance and published by . This book was released on 1959 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Temporary Increase in Debt Ceiling written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1967 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers Administration proposal to amend the Debt Limit Act to increase the temporary public debt ceiling. Focuses on Federal monetary policy and mechanisms of public debt financing.

Download or read book The Debt Limit written by D. Austin and published by CreateSpace. This book was released on 2012-04-29 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Total federal debt can increase in two ways. First, debt increases when the government sells debt to the public to finance budget deficits and acquire the financial resources needed to meet its obligations. This increases debt held by the public. Second, debt increases when the federal government issues debt to certain government accounts, such as the Social Security, Medicare, and Transportation trust funds, in exchange for their reported surpluses. This increases debt held by government accounts. The sum of debt held by the public and debt held by government accounts is the total federal debt. Surpluses reduce debt held by the public, while deficits raise it. On August 2, 2011, President Obama signed the Budget Control Act of 2011 (BCA; S. 365; P.L. 112-25), after an extended debt limit episode. The federal debt had reached its legal limit on May 16, 2011, prompting Treasury Secretary Timothy Geithner to declare a debt issuance suspension period, allowing certain extraordinary measures to extend Treasury's borrowing capacity. The BCA included provisions aimed at deficit reduction and allowing the debt limit to rise between $2,100 billion and $2,400 billion in three stages, the latter two subject to congressional disapproval. Once the BCA was enacted, a presidential certification triggered a $400 billion increase, raising the debt limit to $14,694 billion. That certification also triggered a second $500 billion increase on September 22, 2011, as a disapproval measure (H.J.Res. 77) only passed the House. A January 12, 2012, presidential certification will trigger a third, $1.2 trillion, increase after 15 days unless a disapproval measure, which would be subject to veto, were enacted. On January 18, 2012, the House passed such a measure (H.J.Res. 98) on a 239-176 vote. Congress has always placed restrictions on federal debt. The form of debt restrictions, structured as amendments to the Second Liberty Bond Act of 1917, evolved into a general debt limit in 1939. Congress has voted to raise the debt limit 11 times since 2001, due to persistent deficits and additions to federal trust funds. Congress raised the limit in June 2002, and by December 2002 the U.S. Treasury asked Congress for another increase, which passed in May 2003. In June 2004, the U.S. Treasury asked for another debt limit increase and again in October 2004. A debt limit increase was enacted on November 19, 2004. In 2005, reconciliation instructions in the FY2006 budget resolution (H.Con.Res. 95) included a debt limit increase. After warnings from the U.S. Treasury, Congress passed an increase that the President signed on March 20. In 2007, Congress approved legislation (H.J.Res. 43) to raise the debt limit by $850 billion to $9,815 billion that the President signed September 29, 2007. The recent economic slowdown led to sharply higher deficits in recent years, which led to a series of debt limit increases. The Housing and Economic Recovery Act of 2008 (H.R. 3221), signed into law (P.L. 110-289) on July 30, 2008, included a debt limit increase. The Emergency Economic Stabilization Act of 2008 (H.R. 1424), signed into law on October 3 (P.L. 110-343), raised the debt limit again. The debt limit rose a third time in less than a year to $12,104 billion with the passage of the American Recovery and Reinvestment Act of 2009 on February 13, 2009 (ARRA; H.R. 1), which was signed into law on February 17, 2009 (P.L. 111-5). Following this measure, the debt limit was subsequently increased by $290 billion to $12,394 billion (P.L. 111-123) in a stand-alone debt limit bill on December 28, 2009, and by $1.9 trillion to $14,294 billion on February 12, 2010 (P.L. 111-139), as part of a package that also contained the Statutory Pay-As-You-Go Act of 2010.

Download or read book Debt Limit written by Susan J. Irving and published by DIANE Publishing. This book was released on 2011-04 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1995, the statutory debt limit has been increased 12 times to its current level of $14.294 trillion. The Dept. of the Treasury (DoT) notified Congress that the current debt limit could be reached as early as April 5, 2011. Under current law debt subject to the limit will exceed $25 trillion in 2021. This report: (1) describes the actions that DoT traditionally takes to manage debt near the limit; (2) analyzes the effects that approaching the debt limit has had on the market for DoT securities; and (3) describes alternative mechanisms that would permit consideration of the link between policy decisions and the effect on debt when or before decisions are made. Charts and tables. This is a print on demand edition of an important, hard-to-find report.

Download or read book Temporary Increase in Debt Ceiling written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1965 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Increase the Public Debt Limit written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1958 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Temporary Increase in Debt Ceiling written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1962 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Extension of Temporary Increase in Public Debt Limit written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1955 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Increase in Public Debt Ceiling written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1969 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers Presidential requests for an increase in the public debt ceiling and a redefinition of the national debt that would include only publicly held Federal obligations.

Download or read book Temporary Increase in Debt Ceiling written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1963 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Debt Limit written by Congressional Research Congressional Research Service and published by CreateSpace. This book was released on 2014-10-28 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress has always restricted federal debt. The Second Liberty Bond Act of 1917 included an aggregate limit on federal debt as well as limits on specific debt issues. Through the 1920s and 1930s, Congress altered the form of those restrictions to give the U.S. Treasury more flexibility in debt management and to allow modernization of federal financing. In 1939, a general limit was placed on federal debt. Federal debt accumulates when the government sells debt to the public to finance budget deficits and to meet federal obligations or when it issues debt to government accounts, such as the Social Security, Medicare, and Transportation trust funds. Total federal debt is the sum of debt held by the public and debt held by government accounts. Surpluses reduce debt held by the public, while deficits raise it. Congress has modified the debt limit 14 times since 2001. Congress raised the limit in June 2002, May 2003, November 2004, March 2006, and September 2007. The 2007-2008 fiscal crisis and subsequent economic slowdown led to sharply higher deficits in recent years, which led to a series of debt limit increases. The Housing and Economic Recovery Act of 2008 (H.R. 3221), signed into law (P.L. 110-289) on July 30, 2008, included a debt limit increase. The Emergency Economic Stabilization Act of 2008 (H.R. 1424), signed into law on October 3 (P.L. 110-343), raised the debt limit again. The debt limit rose a third time in less than a year to $12,104 billion with the passage of the American Recovery and Reinvestment Act of 2009 on February 13, 2009 (ARRA; H.R. 1), which was signed into law on February 17, 2009 (P.L. 111-5). Following that measure, the debt limit was subsequently increased by $290 billion to $12,394 billion (P.L. 111- 123) in a stand-alone debt limit bill on December 28, 2009, and by $1.9 trillion to $14,294 billion on February 12, 2010 (P.L. 111-139). The federal debt again reached its limit on May 16, 2011, prompting the Treasury Secretary to invoke authorities to use extraordinary measures to extend Treasury's borrowing capacity. On August 2, 2011, President Obama signed the Budget Control Act of 2011 (BCA; S. 365; P.L. 112- 25), which resolved that debt limit episode. The BCA included provisions aimed at deficit reduction and allowing the debt limit to rise between $2,100 billion and $2,400 billion in three stages, the latter two subject to congressional disapproval. Once the BCA was enacted, a presidential certification triggered a $400 billion increase, and a second $500 billion increase on September 22, 2011. A third $1.2 trillion increase took place on January 28, 2012. Federal debt reached its limit on December 31, 2012. Extraordinary measures were again used until February 4, 2013, when H.R. 325, which suspended the debt limit until May 19, 2013, was signed into law (P.L. 113-3). When that suspension expired, the debt limit was set at $16,699 billion and extraordinary measures were reemployed. On September 25, Treasury Secretary Lew notified Congress that the government would exhaust its borrowing capacity around October 17. On October 16, 2013, Congress passed and the President signed a continuing resolution (H.R. 2775; P.L. 113-46) that included a suspension of the debt limit through February 7, 2014. On February 11, 2014, the House voted to suspend the debt limit (S. 540; P.L. 113-83) through March 15, 2015. The Senate approved the measure the next day and the President signed it on February 15, 2014. After the debt limit is reset in March 2015, independent analysts estimate that the U.S. Treasury will be able to meet obligations until fall 2015. CRS Report R43389, The Debt Limit Since 2011, by D. Andrew Austin discusses recent debt limit events in more detail. This report will be updated as events warrant.

Download or read book Debt Limit of the United States written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1958 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Temporary Increase in Debt Ceiling written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1966 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers need for extension of temporary debt ceiling of $328 billion through FY67 to enable Government to refinance maturing debt and pay Government expenditures.