The debt-ceiling bill is that it is not technically a clean hike in the nation’s debt limit. It’s a suspension of the debt ceiling for a certain time period. On May 19, the debt limit will be raised by an amount “necessary to fund commitment incurred by the Federal Government that required payment.” The Bipartisan Policy Center estimates that number will be around $450 billion.
What’s Next in Congress: Fiscal Fizzle or End-of-Year Opportunity?
Appropriations and Sequester, Federal Budget