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Listening and Doing Exercise:
CLOZE TEST
There has been a lot of talk about the "debt ceiling" the United States. The debt ceiling is a legal limit on much the federal government can borrow. Political disputes over that amount concerned investors in recent weeks. American lawmakers must negotiate a new ceiling every time the federal debt reaches that legal limit. National grows when a government spends more money than it has available. offer bonds and other investments to raise money to pay for spending. In return, the government promises to repay, with interest, the who buy these securities. The financial demands of World War One American lawmakers to establish a total debt limit. In 1917, Congress that the president could borrow up to a set amount without approval. Congress has agreed to change the debt limit 10 times 2001. But the major parties may disagree on spending levels or the need to borrow to pay for government operations. Other nations United States Treasury securities because they are considered the safest investment the world. The partial shutdown of the federal government led to concern about the safety of these investments. Congress agreed to re-open government without enforcing the debt ceiling only one day before borrowing the legal limit. Lawmakers agreed to let the president decide what Treasury Department could borrow through February 7th. Congress must now negotiate new debt limit and resolve other budgetary issues in order to another crisis. For VOA Learning English, I'm Carolyn Presutti.
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created with the online Cloze Test Creator © 2009 Lucy Georges
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