What terms are related to debt ceiling?

Related terms include: Government Shutdown, Appropriation. Understanding these related concepts helps provide context for debt ceiling.

Budget & Spending

Debt Ceiling

Definition

The maximum amount of money the federal government is authorized to borrow. Congress must vote to raise or suspend it to avoid default.

Related Terms

Government Shutdown

The suspension of non-essential federal government operations when Congress fails to pass funding legislation by the start of the fiscal year.

Appropriation

An act of Congress that provides the legal authority for federal agencies to incur obligations and make payments from the Treasury for specified purposes.

More Budget & Spending Terms

Government Shutdown Mandatory Spending Discretionary Spending Entitlement Fiscal Year Budget Resolution

Common Questions

What is a debt ceiling?: The maximum amount of money the federal government is authorized to borrow. Congress must vote to raise or suspend it to avoid default.
What terms are related to debt ceiling?: Related terms include: Government Shutdown, Appropriation. Understanding these related concepts helps provide context for debt ceiling.