debt ceiling explained..... sooo, why th shutdown??????/ The debt limit does not restrict Congress’ ability to enact spending and revenue legislation that affect the level of debt or otherwise constrain fiscal policy; rather, the debt limit restricts the Department of the Treasury’s authority to borrow to finance the decisions enacted by the Congress and the President … In other words, the debt ceiling forces the executive branch to budget for what has already been put on the national credit card.
Posted on: Tue, 15 Oct 2013 21:15:11 +0000
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