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- ABC News Browse Debt ceiling latest news and updates, watch videos and view all photos and more. Join the discussion and find more about Debt ceiling at abcnews.com Debt Ceiling Definition - Investopedia DEFINITION of 'Debt Ceiling' The amount of money the government is legally allowed to borrow to meet its existing legal obligations, including Social Security and ... Debt Ceiling | Definition of Debt Ceiling by Merriam-Webster Define debt ceiling: the maximum amount of money that the government of a country is legally allowed to borrow