Obligations incurred by the Treasury subject to the statutory limit set by Congress. Until World War 1, a specific amount of debt was authorized for each separate security issue. Beginning with the Second Liberty Loan Act of 1917, the nature of the limitation was modified until, in 1941, it developed into an overall limit on the outstanding Federal debt. The statuatory limit may change from year to year.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). Debt outstanding subject to limitation. Retrieved September 26, 2026, from http://smartdefine.org/debt_outstanding_subject_to_limitation/definitions/1151551 |
| Chicago | Barry Goldsmith. 2010. "Debt outstanding subject to limitation" http://smartdefine.org/debt_outstanding_subject_to_limitation/definitions/1151551 (accessed September 26, 2026). |
| Harvard | Barry Goldsmith 2010, Debt outstanding subject to limitation, Smart Define, viewed 26 September, 2026, <http://smartdefine.org/debt_outstanding_subject_to_limitation/definitions/1151551>. |
| MLA | Barry Goldsmith. "Debt outstanding subject to limitation" 21 October 2010. Web. 26 September 2026. <http://smartdefine.org/debt_outstanding_subject_to_limitation/definitions/1151551> |