Public Debt Acts

Public Debt Acts

Public Debt Acts are Acts of Congress which attempt to define public spending limits within a fiscal year.

United States

  • The United States Public Debt Act of 1939 eliminated separate limits on different types of debt.[1]
  • The Public Debt Act of 1941 raised the limit, and consolidated nearly all federal borrowing under the U.S. Treasury.

There were further acts passed in 1942, 1943, 1944, 1945, and future years.

As of 4 August 2011 (2011 -08-04), the United States public debt stood at $14,516,592,000,000.

References

  1. ^ McCaffery, Edward J.. "Major Acts of Congress: Public Debt Acts". E-Notes. http://www.enotes.com/major-acts-congress/public-debt-acts. 

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