Spreadsheet: 488d9687-7a3b-429f-bbb9-983868dbf371
Sheet: Sheet1

Table 7.3—STATUTORY LIMITS ON FEDERAL DEBT: 1940–CURRENT | Unnamed: 1 | Unnamed: 2 | Unnamed: 3
(Dollar amounts in billions)
Statute | Date | Description | Limit
54 Stat. 526 | June 25, 1940 | Amended sec. 21, adding new authority for issuance of $4 billion National Defense Series obligations outstanding | 49
55 Stat. 7 | February 19, 1941 | Amended sec. 21, eliminating authority for $4 billion of National Defense Series obligations and increasing limitation to | 65
56 Stat. 189 | March 28, 1942 | Amended sec. 21, increasing limitation to | 125
57 Stat. 63 | April 11, 1943 | Amended sec. 21, increasing limitation to | 210
58 Stat. 272 | June 9, 1944 | Amended sec. 21, increasing limitation to | 260
59 Stat. 47 | April 3, 1945 | Amended sec. 21, including obligations guaranteed as to principal and interest by the United States and increasing limitation to | 300
60 Stat. 316 | June 26, 1946 | Amended sec. 21, defining face amount of savings bonds to be current redemption value and decreasing limitation to | 275
68 Stat. 895 | August 28, 1954 | Increasing sec. 21 limitation by $6 billion during period beginning August 28, 1954, and ending June 30, 1955 | 281
69 Stat. 241 | June 30, 1955 | Amended act of August 28, 1954, extending increase in limitation until June 30, 1956 | 281
70 Stat. 519 | July 9, 1956 | Increased sec. 21 limitation by $3 billion during period beginning July 1, 1956, and ending June 30, 1957 | 278
 |  | Temporary increase terminated July 1, 1957, and limitation reverted to | 275
72 Stat. 27 | February 26, 1958 | Increased sec. 21 limitation by $5 billion during period beginning February 26, 1958, and ending June 30, 1959 | 280
72 Stat. 1758 | September 2, 1958 | Amended sec. 21, increasing limitation to $283 billion, which with temporary increase of February 26, 1958 made limitation | 288
73 Stat. 156 | June 30, 1959 | Amended sec. 21, increasing limitation to $285 billion and increased sec. 21 limitation by $10 billion during period beginning July 1, 1959, and ending June 30, 1960 | 295
74 Stat. 290 | June 30, 1960 | Increased sec. 21 limitation by $8 billion during period beginning July 1, 1960, and ending June 30, 1961 | 293
75 Stat. 148 | June 30, 1961 | Increased sec. 21 limitation by $13 billion during period beginning July 1, 1961, and ending June 30, 1962 | 298
76 Stat. 23 | March 13, 1962 | Increased sec. 21 limitation by $2 billion (in addition to temporary increase of $13 billion in act of June 30, 1961) during period beginning March 13, 1962, and ending June 30, 1962 | 300
76 Stat. 124 | July 1, 1962 | Increased sec. 21 limitation during the periods:
 |  | (1) beginning July 1, 1962, and ending March 31, 1963, to | 308
 |  | (2) beginning April 1, 1963, and ending June 24, 1963, to | 305
 |  | (3) beginning June 25, 1963, and ending June 30, 1963, to | 300
77 Stat. 90 | May 29, 1963 | Increased sec. 21 limitation during the periods:
 |  | (1) beginning May 29, 1963, and ending June 30, 1963, to | 307
 |  | (2) beginning July 1, 1963, and ending August 31, 1963, to | 309
77 Stat. 131 | August 27, 1963 | Increased sec. 21 limitation during the period beginning September 1, 1963, and ending November 30, 1963, to | 309
77 Stat. 342 | November 26, 1963 | Increased sec. 21 limitation during the periods:
 |  | (1) beginning December 1, 1963, and ending June 29, 1964, to | 315
 |  | (2) ending June 30, 1964, to | 309
78 Stat. 225 | June 29, 1964 | Increased sec. 21 limitation during the period beginning June 29, 1964, and ending June 30, 1965, to | 324
79 Stat. 172 | June 24, 1965 | Increased sec. 21 limitation during the period beginning July 1, 1965, and ending June 30, 1966, to | 328
80 Stat. 221 | June 24, 1966 | Increased sec. 21 limitation during the period beginning July 1, 1966, and ending June 30, 1967, to | 330
81 Stat. 4 | March 2, 1967 | Increased sec. 21 limitation during the period beginning March 2, 1967, and ending June 30, 1967, to | 336
81 Stat. 99 | June 30, 1967 | Sec. 21 amended to increase limitation on aggregate outstanding at any time to | 358
 |  | Sec. 21 amended also to increase the limitation temporarily, beginning July 1, 1968, and each July 1 thereafter for the period beginning July 1 and ending June 29 of each succeeding calendar year by $7 billion, providing an operating limitation of | 365
83 Stat. 7 | April 7, 1969 | Amended sec. 21, increasing limitation to $365 billion, and increased sec. 21 limitation by $12 billion during period beginning April 7, 1969, and ending June 30, 1970 | 377
84 Stat. 368 | June 30, 1970 | Amended sec. 21, increasing limitation to $380 billion, and increased sec. 21 limitation by $15 billion during period beginning July 1, 1970, and ending June 30, 1971 | 395
85 Stat. 5 | March 17, 1971 | Amended sec. 21, increasing limitation to $400 billion, and increased sec. 21 limitation by $30 billion during period beginning March 17, 1971, and ending June 30, 1972 | 430
86 Stat. 63 | March 15, 1972 | Amended sec. 21, to further increase the limitation temporarily by $20 billion during period beginning March 15, 1972, and ending June 30, 1972 | 450
86 Stat. 406 | July 1, 1972 | Amended act of March 15, 1972, striking out June 30, 1972, and inserting in lieu thereof October 31, 1972 | 450
86 Stat. 1324 | October 27, 1972 | Increased sec. 21 limitation during the period beginning November 1, 1972, and ending June 30, 1973 | 465
86 Stat. 1324 | July 1, 1973 | Amended act of October 27, 1972, striking out June 30, 1973, and inserting in lieu thereof November 30, 1973 | 465
87 Stat. 691 | December 3, 1973 | Increased sec. 21 limitation during the period beginning December 3, 1973, and ending June 30, 1974 | 475.7
88 Stat. 285 | June 30, 1974 | Increased sec. 21 limitation during the period beginning June 30, 1974, and ending March 31, 1975 | 495
89 Stat. 5 | February 19, 1975 | Increased sec. 21 limitation during the period beginning February 19, 1975, and ending June 30, 1975 | 577
89 Stat. 246 | June 30, 1975 | Increased sec. 21 limitation during the period beginning June 30, 1975, and ending November 15, 1975 | 577
89 Stat. 693 | November 14, 1975 | Increased sec. 21 limitation during the period beginning November 14, 1975, and ending March 15, 1976 | 595
90 Stat. 217 | March 15, 1976 | Increased sec. 21 limitation during the period beginning March 15, 1976, and ending June 30, 1976 | 627
90 Stat. 793 | June 30, 1976 | Increased sec. 21 limitation during the periods:
 |  | (1) beginning July 1, 1976, and ending September 30, 1976, to | 636
 |  | (2) beginning October 1, 1976, and ending March 31, 1977, to | 682
 |  | (3) beginning April 1, 1977, and ending September 30, 1977, to | 700
 |  | Temporary increase terminated October 1, 1977, and limitation reverted to | 400
91 Stat. 1090 | October 4, 1977 | Increased sec. 21 limitation by $352 billion during the period beginning October 4, 1977, and ending March 31, 1978 | 752
92 Stat. 185 | March 27, 1978 | Amended act of October 4, 1977, striking out March 31, 1978, and inserting in lieu thereof July 31, 1978 | 752
 |  | Temporary increase terminated August 1, 1978, and limitation reverted to | 400
92 Stat. 419 | August 3, 1978 | Increased sec. 21 limitation by $398 billion during the period beginning August 3, 1978, and ending March 31, 1979 | 798
 |  | Temporary increase terminated April 1, 1979, and limitation reverted to | 400
93 Stat. 8 | April 2, 1979 | Increased sec. 21 limitation by $430 billion during the period beginning April 2, 1979, and ending September 30, 1979 | 830
93 Stat. 589 | September 29, 1979 | Increased sec. 21 limitation by $479 billion during the period beginning September 29, 1979, and ending May 31, 1980 | 879
94 Stat. 421 | May 30, 1980 | Amended act of September 29, 1979, striking out May 31, 1980, and inserting in lieu thereof June 5, 1980 | 879
94 Stat. 439 | June 6, 1980 | Amended act of September 29, 1979, striking out June 5, 1980, and inserting in lieu thereof June 30, 1980 | 879
94 Stat. 598 | June 28, 1980 | Increased sec. 21 limitation by $525 billion during the period beginning June 28, 1980, and ending February 28, 1981 | 925
94 Stat. 3261 | December 19, 1980 | Increased the total debt limit (composed of $400.0 billion of permanent ceiling, $535.1 billion of temporary ceiling) to | 935.1
[NAME]. 4 | February 7, 1981 | Increased the temporary portion of the debt limit to $585.0 billion through September 30, 1980, raising the total debt ceiling to | 985
[NAME]. 955 | September 30, 1981 | Increased the temporary portion of the debt limit to $599.8 billion for one day -- September 30, 1981 | 999.8
[NAME]. 956 | September 30, 1981 | Increased the temporary portion of the debt limit to $679.8 billion through September 30, 1982 | 1079.8
96 Stat. 130 | June 28, 1982 | Increased the temporary portion of the debt limit to $743.1 billion through September 30, 1982 | 1143.1
96 Stat. 1156 | September 30, 1982 | Increased the temporary portion of the debt limit to $890.2 billion through September 30, 1983 | 1290.2
97 Stat. 196 | May 26, 1983 | Eliminated the distinction between permanent and temporary limit with the enactment of a single permanent limit. Raised the debt limit to | 1389
97 Stat. 1012 | November 21, 1983 | Increased the debt limit to | 1490
98 Stat. 217 | May 25, 1984 | Increased the debt limit to | 1520
98 Stat. 313 | July 6, 1984 | Increased the debt limit to | 1573
98 Stat. 2206 | October 13, 1984 | Increased the debt limit to | 1823.8
99 Stat. 814 | November 14, 1985 | Increased the debt limit temporarily through December 6, 1985, to | 1903.8
99 Stat. 1037 | December 12, 1985 | Increased the debt limit to | 2078.7
100 Stat. 818 | August 21, 1986 | Increased the debt limit to | 2111
100 Stat. 1968 | October 21, 1986 | Increased the debt limit temporarily through May 15, 1987, to | 2300
101 Stat. 308 | May 15, 1987 | Increased the debt limit temporarily through July 17, 1987, to | 2320
101 Stat. 542 | July 30, 1987 | Increased the debt limit temporarily through August 6, 1987, to | 2320
101 Stat. 550 | August 10, 1987 | Increased the debt limit temporarily through September 23, 1987, to | 2352
101 Stat. 754 | September 29, 1987 | Increased the debt limit to | 2800
103 Stat. 182 | August 7, 1989 | Increased the debt limit temporarily through October 31, 1989, to | 2870
103 Stat. 830 | November 8, 1989 | Increased the debt limit to | 3122.7
104 Stat. 403 | August 9, 1990 | Increased the debt limit temporarily through October 2, 1990, to | 3195
104 Stat. 878 | October 2, 1990 | Increased the debt limit temporarily through October 6, 1990, to | 3195
104 Stat. 897 | October 9, 1990 | Increased the debt limit temporarily through October 19, 1990, to | 3195
104 Stat. 1033 | October 19, 1990 | Increased the debt limit temporarily through October 24, 1990, to | 3195
104 Stat. 1078 | October 25, 1990 | Increased the debt limit temporarily through October 27, 1990, to | 3195
104 Stat. 1087 | October 28, 1990 | Increased the debt limit temporarily through November 5, 1990, to | 3230
104 Stat. 1388-560 | November 5, 1990 | Increased the debt limit to | 4145
107 Stat. 42 | April 6, 1993 | Increased the debt limit temporarily through September 30, 1993, to | 4370
107 Stat. 565 | August 10, 1993 | Increased the debt limit to | 4900
[NAME]. 55 | February 8, 1996 | Temporarily exempted from limit obligations in an amount equal to the monthly insurance benefits payable under Title II of the Social Security Act in March 1996, the exemption to expire on the earlier of an increase in the limit or March 15, 1996.
[NAME]. 825 | March 12, 1996 | Temporarily exempted from limit (a) obligations in an amount equal to the monthly insurance benefits payable under Title II of the Social Security Act in March 1996 and (b) certain obligations issued to trust funds and other Federal Government accounts, both exemptions to expire on the earlier of an increase in the limit or March 30, 1996.
[NAME]. 875 | March 29, 1996 | Increased the debt limit to | 5500
111 Stat. 648 | August 5, 1997 | Increased the debt limit to | 5950
116 Stat. 734 | June 28, 2002 | Increased the debt limit to | 6400
117 Stat. 710 | May 27, 2003 | Increased the debt limit to | 7384
118 Stat. 2337 | November 19, 2004 | Increased the debt limit to | 8184
120 Stat. 289 | March 20, 2006 | Increased the debt limit to | 8965
121 Stat. 988 | September 29, 2007 | Increased the debt limit to | 9815
122 Stat. 2908 | July 30, 2008 | Increased the debt limit to | 10615
122 Stat. 3790 | October 3, 2008 | Increased the debt limit to | 11315
123 Stat. 366 | February 17, 2009 | Increased the debt limit to | 12104
123 Stat.3483 | December 28, 2009 | Increased the debt limit to | 12394
124 Stat.8 | February 12, 2010 | Increased the debt limit to | 14294