The debt limit is the total amount of money that the U.S. government is authorized to borrow to meet its existing legal
obligations, including Social Security and Medicare benefits, military
salaries, interest on the national debt, tax refunds, and other
payments.
The Obama Administration is strongly committed to fundamentally reforming our nation's system of housing finance, including Fannie Mae and Freddie Mac.
An unprecedented effort to jumpstart our economy, create or save millions of jobs, and help the U.S. thrive. Learn how your money is being spent.
It is time to restore responsibility and accountability to our
financial system and provide Americans with the confidence that there is
a system in place that works for and protects them - not just the banks
and other financial institutions.