Under that rule, Congress doesn't wait until we are approaching the debt ceiling to grant the Treasury Department the authorization to borrow what it needs. Instead, when Congress passes a budget resolution authorizing spending, it simultaneously approves raising the debt ceiling to cover any borrowing the budget requires. For instance, when the defense budget is passed, the same bill would require that the debt ceiling be raised.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
