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A failure to raise the debt ceiling, the maximum amount the government can borrow, could precipitate a financial crisis.
They have refused to increase the debt ceiling, the maximum amount the government can borrow, without an agreement to make such cuts.
But he rebuffed several attempts by Republicans to secure his support for the proposition that Congress should not raise the debt ceiling — the maximum amount that the government can borrow — without a plan to reduce the debt.
The deferral of a decision on spending seems to be setting up a tense early spring, as America is also pushing against its debt ceiling – the maximum amount of borrowing the US state is allowed to bear – which will require further congressional approval in March if a shutdown of the government is to be averted.
WASHINGTON — World markets have behaved until now as if it were inevitable that Congress would raise the debt ceiling, the maximum amount the federal government can borrow, before the Treasury Department exhausts its ability to pay all of its bills in early August.
A complete stand-off between Mr Obama and Congress would lead to disaster even sooner, for unless America's lawmakers vote to increase the "debt ceiling" (the maximum amount of debt that the Treasury can issue) by around March, the federal government will be unable to pay its bills including, potentially, its bondholders.
Similar(53)
Previously, the bank's maximum personal loan was £30,000, and the new ceiling leapfrogs the maximum at other lenders such as Sainsbury's (£40,000) and Tesco (£35,000).
In short, the debt ceiling is the maximum amount the government can borrow.
The cell population ceiling is the maximum cell density that could be sustainably maintained in a RaBIT fermentation system.
We therefore imposed a ceiling on the maximum number of samples for sequential MC, set to 50 000 to ensure the possibility of significant results after multiple testing correction (indeed, using a maximum of 10 000 samples for sequential MC missed all significant results when asking about overrepresentation of H3K4me2 downstream in genes).
It has been clear since last fall that the government would hit the debt ceiling, the legal maximum that it can borrow, at some point during 2011.
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