Debt Limit: Analysis of 2011-2012 Action Taken and Effect on Delayed Increase on Borrowing Costs (Paperback) (ISBN-13: 9781492352037)

Congress and the President first enacted a statutory limit on federal debt during World War I to eliminate the need for Congress to approve each new debt issuance and provide Treasury with greater discretion over how it finances the government's day-to-day borrowing needs. With the Public Debt Act of 1941, Congress and the President set an overall limit of $65 billion on Treasury debt obligations that could be outstanding at any one time and since then have enacted a number of debt limit increases.

Author: United Statesgovernment Accountability O
ISBN-10: 1492352039
ISBN-13: 9781492352037
Publisher: Createspace Independent Publishing Platform
Language: English
Published: 09/12/2013
Pages: 40
Format: Paperback
Weight: 0.26lbs
Size: 11.02h x 8.50w x 0.08d