Reaching the Debt Limit: Background and Potential Effects on Government Operations

Description

This report examines the possibility of the federal government reaching its statutory debt limit and not raising it, with a particular focus on government operations. First, the report explains the nature of the federal government's debt, the processes associated with federal borrowing, and historical events that may influence prospective actions. It also includes an analysis of what could happen if the federal government may no longer issue debt, has exhausted alternative sources of cash, and, therefore, depends on incoming receipts or other sources of funds to provide any cash needed to liquidate federal obligations.2 Finally, this report lays out considerations ... continued below

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30 pages.

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Levit, Mindy R.; Brass, Clinton T.; Nicola, Thomas J. & Nuschler, Dawn September 19, 2013.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 30 times . More information about this report can be viewed below.

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Description

This report examines the possibility of the federal government reaching its statutory debt limit and not raising it, with a particular focus on government operations. First, the report explains the nature of the federal government's debt, the processes associated with federal borrowing, and historical events that may influence prospective actions. It also includes an analysis of what could happen if the federal government may no longer issue debt, has exhausted alternative sources of cash, and, therefore, depends on incoming receipts or other sources of funds to provide any cash needed to liquidate federal obligations.2 Finally, this report lays out considerations for increasing the debt limit under current policy and what impact fiscal policy could have on the debt limit going forward.

Physical Description

30 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • September 19, 2013

Added to The UNT Digital Library

  • Nov. 5, 2013, 6:07 p.m.

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  • Aug. 12, 2015, 9:48 p.m.

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Levit, Mindy R.; Brass, Clinton T.; Nicola, Thomas J. & Nuschler, Dawn. Reaching the Debt Limit: Background and Potential Effects on Government Operations, report, September 19, 2013; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc227708/: accessed October 18, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.