Debt Ceiling
The Debt Ceiling
The government can spend only if there are sufficient funds to pay for the spending. When the budget is made up every year this is a spending plan for the government. The money comes from tax dollars or borrowing and there is never enough tax dollars to cover the budget so borrowing take place in the form of selling U.S. government bonds. But there is a limit to government borrowing and when that limit is reached the debt ceiling has been reached.
The debit ceiling for the