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Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Ten of those times have occurred since 2001. Expect more of the same over the next decade.
1 The legislative branch of Government (Congress) decides how the money is spent.  There is a maximum amount of debt the Government can have. This is known as the âdebt ceiling.â To raise that amount, the U.S. Treasury must get Congress to approve a new and higher limit.