debt ceiling---A limit to how much debt the US can have and this number is set by
Congress. There have been quite a few numbers tossed around at the end of
December, 2012 as to how high the debt really is (it is believed to be very
close to the 16.4 trillion limit now in March of 2013). When compared to the
estimates on the US budget deficit at this time there seems to be a great
discrepancy. Hopefully, the increases in income in the US economy will bring in
more tax revenue for 2012 so as to slow the trajectory towards the
ceiling
Congress. There have been quite a few numbers tossed around at the end of
December, 2012 as to how high the debt really is (it is believed to be very
close to the 16.4 trillion limit now in March of 2013). When compared to the
estimates on the US budget deficit at this time there seems to be a great
discrepancy. Hopefully, the increases in income in the US economy will bring in
more tax revenue for 2012 so as to slow the trajectory towards the
ceiling