Documents November 2013 FIN310 JU Class. When the federal government spends more than it takes in taxes, U.S....

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.…

Documents US Debt Crisis

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,…