debt ceiling

• Límite legal sobre la cantidad total de dinero que el gobierno está autorizado a pedir prestado para cumplir con sus obligaciones legales existentes, como la seguridad social y los salarios militares.

A legal limit on the total amount of money that a government is authorized to borrow to meet its existing legal obligations, such as social security and military salaries.

1. Government borrowing limitC1formalamerican

   The maximum amount of money that a government is legally allowed to borrow to pay its existing obligations.

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   • The Congress voted to raise the debt ceiling to avoid a default.
   • Failure to increase the debt ceiling could lead to a government shutdown.
   • Economists debate the long-term effects of raising the debt ceiling.