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Debt outstanding subject to limitation

Definition: [crh] Obligations incurred by the Treasury subject to the statutory limit set by Congress. Until World WaDefinition: r 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 Definition: 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.

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