Addressing the Debt Limit: Legislative Insights and Economic Impacts
Addressing the Debt Limit: Legislative Insights and Economic Impacts - Image 2

Addressing the Debt Limit: Legislative Insights and Economic Impacts

$170.00

Chad D. Reed (Editor)

Series: Government Procedures and Operations
BISAC: POL006000; POL024000

The United States Constitution grants Congress the critical “power of the purse,” empowering it to regulate the amount of federal debt. Under current law, this power is exercised through the federal debt limit. The federal debt limit serves as a mechanism to ensure that recent revenue and expenditure trends align with Congressional approval. However, federal collection and spending decisions that affect debt levels are often predetermined by agreements between Congress and the Administration, well in advance of debt limit deliberations. As of now, the statutory debt limit is suspended through January 1, 2025.

This book aims to provide comprehensive background information and delve into the economic effects and legislative activities surrounding the federal debt limit. Through meticulous analysis and historical context, this book offer readers a thorough understanding of this pivotal aspect of fiscal policy.

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Table of Contents

Preface

Chapter 1. The Debt Limit
Grant A. Driessen

Chapter 2. The Debt Limit Since 2011
D. Andrew Austin

Chapter 3. 2023 Debt Limit: Congressional Consideration of Debt Limit Legislation
James V. Saturno and Megan S. Lynch

Chapter 4. Votes on Measures to Adjust the Statutory Debt Limit, 1978 to Present
Justin Murray

Chapter 5. A Binding Debt Limit: Background and Possible Consequences
D. Andrew Austin

Chapter 6. Debt Limit Policy Questions: What Are the Potential Economic Effects of a Binding Federal Debt Limit?
Brendan McDermott and Grant A. Driessen

Chapter 7. Debt Limit Policy Questions: How Long Do Extraordinary Measures Last?
Grant A. Driessen and Brendan McDermott

Chapter 8. Debt Limit Legislation: The House “Gephardt Rule”
Bill Heniff Jr.

Chapter 9. Budget Process Reforms Included in Debt Limit Legislation
Megan S. Lynch

Chapter 10. Debt Limit Suspensions
D. Andrew Austin

Chapter 11. Consol-Type Perpetual Bonds and the Debt Limit: In Brief
D. Andrew Austin

Chapter 12. Changes to IRS Funding in the Debt Limit Deal
Brendan McDermott

Chapter 13. Why Congress Needs to Abolish the Debt Limit
Committee on the Budget

Index

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