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Statutory limit on the public debt
The maximum amount, established in law, of public debt that can be outstanding. The limit covers virtually all debt incurred by the Federal Government (primarily the Treasury Department), including borrowing from trust funds, but excludes some debt incurred by agencies.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Government
- Category: American government
- Company: U.S. Senate
- Product:
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