Debt Limit

Special Publication

The Crazy Debt Limit Should Go

The original purpose of the statutory debt limit was to remove the requirement that Congress authorize individual issuances of debt, rather than keep the government from acquiring too much debt.

Blog Post

Why the National Debt Just Hit $20 Trillion

September 13, 2017
On Sept. 8 the national debt increased by over $300 billion, surpassing $20 trillion for the first time in history -- a symbolic reminder of the federal government’s flawed fiscal policy. But how exactly did we get to this point, and why was there such a sharp increase in a single day?
Blog Post

The Debt Limit is More Trouble Than It’s Worth

September 06, 2017
The original purpose of creating a statutory debt limit in 1917 was not to prevent the government from running up too much debt, but to remove the requirement that Congress authorize individual issuances of debt. The intent was to help ensure that sufficient and timely credit would be available to finance World War I. One hundred years later, things are very different. The main use of the debt limit now is to prevent the government from paying its bills on time, putting the nation’s creditworthiness at risk and threatening a global financial crisis.
Issue Brief

A Tale of Two Deadlines

Two deadlines converge by coincidence this year. They are not related to one another and the precise consequences of failing to deal with them in a timely manner are different. Missing either of the deadlines, however, has the potential to do harm to the nation’s fiscal situation and the economy. There is certainly no good reason for provoking a standoff on either.
In the News

K Street Ups Pressure for Congress to Raise Debt Limit

July 17, 2017
CQ Roll Call
Topics
Debt Limit
Discretionary Spending
Economy
Federal Budget

Lobbyist for financial services and business groups are putting more pressure on Congress to quickly raise the debt limit and fund the government “without drama,” according to a July 17 s