United States debt ceiling refers to the legal limit on the amount of debt that the U.S. government can borrow. Once the debt ceiling is reached, the government is unable to borrow any more money to pay its bills, including Social Security benefits, Medicare payments, military salaries, and interest on the national debt.
The debt ceiling is an important tool for Congress to control government spending. By setting a limit on the amount of debt that the government can borrow, Congress can help to ensure that the government does not spend more money than it takes in. This can help to prevent inflation and protect the value of the dollar.