Public Debt Limit

Archive Report

Debt Limit Increase in the Balance

The state of the government's finances as the year 1953 draws to a close makes it virtually certain that Congress will again be asked to increase the public debt limit. President Eisenhower said Nov. 18 that the question would not be decided until late December but it was authoritatively reported, after a White House conference Dec, 18, that congressional leaders had been told by Secretary of the Treasury Humphrey that the government would not be able to meet its obligations during the coming year without additional borrowing authority.

A special message by the President last July 30, when Congress was within a few days of a planned adjournment, asked that the debt ceiling be raised from $275 billion to $290 ...

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