Slide 1November 2013 FIN310 JU Class Slide 2 When the federal government spends more than it takes in taxes, U.S. Treasury has to borrow the rest to pay all its bills.…
1. What is Debt Ceiling?◦ Also known as the debt limit, the debtceiling is the amount of gross debt thefederal government can have.◦ The US limit till July 2011 was $14.3trillion,…