debt limit

debt limit
the maximum borrowing power of a governmental entity
Syn: ↑debt ceiling
Hypernyms: ↑debt
Hyponyms: ↑national debt ceiling

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(in public finance) the legal maximum debt permitted a municipal, state, or national government.

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debt limit,
the limit, as established by law or constitution, beyond which a government may not incur indebtedness: »

I have no alternative but to ask Congress to again increase the debt limit (New York Times).

Useful english dictionary. 2012.