National Debt Ceiling (Noun)
Meaning
A limit set by Congress beyond which the national debt cannot rise; periodically raised by Congress.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The current national debt ceiling has been a point of contention among lawmakers who argue about its implications on the economy.
- Increasing the national debt ceiling would allow the government to borrow more funds and prevent a default on its obligations.
- Members of Congress must agree to raise the national debt ceiling periodically in order to maintain stability in the country's finances.
- As the deadline to raise the national debt ceiling draws near, policymakers scramble to come up with a plan to prevent the nation from going into default.
- Opponents of raising the national debt ceiling claim that it sends the wrong message to investors about the government's commitment to managing its spending and reducing debt.