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21:05 Nov 17, 2013 |
English language (monolingual) [PRO] Bus/Financial - Economics | |||||||
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| Selected response from: Charlesp Sweden Local time: 15:38 | ||||||
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SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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5 +2 | no |
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4 | I think your understanding is correct |
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I think your understanding is correct Explanation: spending limit authorized by annual federal budget Reference: http://usgovinfo.about.com/od/federalbudgetprocess/a/budget_... |
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no Explanation: but it's complicated. Here is the definition of "spending authority:" The Congressional Budget Act of 1974 defines it as borrowing authority, contract authority, and entitlement authority for which appropriation acts do not provide budget authority in advance. ... While debt ceiling is an upper limit set on the total amount that the federal government may borrow. Reference: http://democrats.rules.house.gov/archives/glossary_fbp.htm |
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