Debt Ceiling: A stop Sign for Federal Borrowing
The Bipartisan Budget Act of 2015 suspended the federal government's statutory debt limit — commonly called the debt ceiling — through March 15, 2017. That deadline came and went with little fanfare as Congress focused on other matters, but the debt ceiling cannot be ignored for long, and it's likely to become a focal point for negotiations on broad fiscal issues, including the federal budget and tax reform.
As an investor and taxpayer, you may want to know more about how the debt ceiling relates to the national debt and annual budget deficits.