The Debt Limit: Why It Rose After Four Years of Surpluses and the Debt Changes Since

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In December 2002, the Administration began warning Congress that the debt limit ($6.4 trillion) would be reached in the first half of 2002. As the limit was approached in February 2003, the Administration resorted to suspension of certain internal fund investments to avoid a default. The adoption of the budget resolution (H.Con.Res. 95; April 11, 2003) for FY2004 generated legislation (H.J.Res. 51) — deemed passed by the House — that would increase the debt limit to $7.4 trillion.

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6 pages.

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Winters, Philip D. May 16, 2003.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by the UNT Libraries Government Documents Department to the UNT Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 68 times. More information about this report can be viewed below.

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In December 2002, the Administration began warning Congress that the debt limit ($6.4 trillion) would be reached in the first half of 2002. As the limit was approached in February 2003, the Administration resorted to suspension of certain internal fund investments to avoid a default. The adoption of the budget resolution (H.Con.Res. 95; April 11, 2003) for FY2004 generated legislation (H.J.Res. 51) — deemed passed by the House — that would increase the debt limit to $7.4 trillion.

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Congressional Research Service Reports

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  • May 16, 2003

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  • June 10, 2005, 8:45 p.m.

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  • Feb. 9, 2017, 3:42 p.m.

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Winters, Philip D. The Debt Limit: Why It Rose After Four Years of Surpluses and the Debt Changes Since, report, May 16, 2003; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metacrs3866/: accessed October 3, 2023), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.

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