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Friday, July 22, 2011

What is The Debt Ceiling?

Everything you need to know about the debt ceiling in one post - Ezra Klein - The Washington Post: www.washingtonpost.com/blogs/ezra-klein/post/every....html
(Snippet from the article)
What it is: The debt ceiling is a legal cap on the amount of money the Treasury can borrow to fund existing government functions. It essentially authorizes the Treasury to borrow the money necessary to pay the bills incurred by the federal government.
http://chumly.com/n/ab1513

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