 Get around kids, it's time to learn. By the topic, debt's got its own concern. It's called the debt ceiling, so let's break it down. The debt ceiling is a legal limit on how much money the United States government can borrow to pay for its expenses. Uncle Sam, he's got bills to pay. Sometimes the cash doesn't come his way. When the government spends more money than it takes in through taxes and other revenue sources, it borrows money by selling bonds. The debt ceiling limits how much money the government can borrow at any given time. The debt ceiling has become a contentious political issue in recent years. Raising the debt ceiling is necessary to ensure that the government can continue to pay its bills. However, some people argue that raising the debt ceiling just encourages irresponsible spending. You've learned about the debt ceiling right here.