Debt of Honor | Collateralized debt obligation | Til Debt Do Us Part | Swedish National Debt Office | Latin American debt crisis | ceiling fan | United States debt ceiling | Subordinated debt | Rama and Lakshmana seated on Kabandha's arms, about to sever them. Kabandha is depicted with a big mouth on his stomach and no head or neck; though depicted with two eyes, the ''Ramayana'' describes him as one-eyed. (Painting on ceiling of temple in Ayodhyapattinam near Salem, Tamil Nadu | Nonrecourse debt | National debt of the United States | Life and Debt | In his colored wax medallion ''People's militia of 1812'' (1816), Tolstoy owes a debt to Jacques-Louis David | Fowl roasting on a spit. Smoke from the fire rises to the smoke canopy, and is vented through the wall or ceiling; ''Decameron | Empire of Debt | Emerging market debt | Debt: The First 5000 Years | Debt-snowball method | Debt restructuring | debt relief | Debt of Honour | debt deflation | Debt | debt | Bureau of the Public Debt | Argentine debt restructuring | 2000s European sovereign debt crisis timeline |
The provisions of the bill included a cut in the total amount of federal government spending, a cap on the level of future spending as a percentage of GDP, and, on the condition that Congress pass certain changes to the U.S. Constitution, an increase in the national debt ceiling to allow the federal government to continue to service its debts.
In the United States, Public Debt Acts are Acts of Congress which set the debt ceiling on the National debt of the United States.
The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
The No Budget, No Pay Act of 2013 suspended the debt ceiling from February 4, 2013 until May 19, 2013.
Republican Speaker of the House, John Boehner and the Senate Republican minority leader, Mitch McConnell as well as other Republicans argued that the debt ceiling should not be raised unless spending is cut by an amount equal to or greater than the debt ceiling increase.
On February 4, 2013, President Obama signed into law the "No Budget, No Pay Act of 2013", which suspended the U.S. debt ceiling through May 18, 2013.