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Accession Number PB2012-113982
Title Debt Limit: Analysis of 2011-2012 Actions Taken and Effect of Delayed Increase on Borrowing Costs.
Publication Date Jul 2012
Media Count 39p
Personal Author N/A
Abstract On August 2, 2011, Congress and the President enacted the Budget Control Act of 2011, which established a process that increased the debt limit to its current level of $16.4 trillion through incremental increases effective on August 2, 2011; after close of business on September 21, 2011; and after close of business on January 27, 2012. Delays in raising the debt limit occurred prior to the August 2011 and January 2012 increases, with the Department of the Treasury (Treasury) deviating from its normal debt management operations and taking a number of actions, referred to by Treasury as extraordinary actions, to avoid exceeding the debt limit.
Keywords Borrowing
Costs
Debt limit
Debt management
Economic analysis
Federal budgets
Financial management
Policy decisions

 
Source Agency General Accounting Office
NTIS Subject Category 96 - Business & Economics
70F - Public Administration & Government
Corporate Author Government Accountability Office, Washington, DC.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1225
Contract Number N/A

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