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History of United States debt ceiling : ウィキペディア英語版
History of United States debt ceiling

The history of United States debt ceiling deals with movements in the United States debt ceiling since it was created in 1917. Management of the United States public debt is an important part of the macroeconomics of the United States economy and finance system, and the debt ceiling is a limitation on the federal government's ability to manage the economy and finance system. The debt ceiling is also a limitation on the federal government's ability to finance government operations, and the failure of Congress to authorise an increase in the debt ceiling has resulted in crises, especially in recent years.
==Overview==
A statutorily imposed debt ceiling has been in effect since 1917 when the US Congress passed the ''Second Liberty Bond Act''. Before 1917 there was no debt ceiling in force, but there were parliamentary procedural limitations on the level of possible debt that could be held by government.
Except for about a year during 1835–1836, the United States has continuously had a fluctuating public debt since the US Constitution legally went into effect on March 4, 1789. Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly report on the amount of the debt ($75,463,476.52 on January 1, 1791〔(【引用サイトリンク】 title=Historical Debt Outstanding - Annual 1790 - 1849 )〕). Every president since Herbert Hoover has added to the national debt expressed in absolute dollars.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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