<P> Under Article I Section 8 of the United States Constitution , only Congress can authorize the borrowing of money on the credit of the United States . From the founding of the United States until 1917 , Congress directly authorized each individual debt issued . To provide more flexibility to finance the United States ' involvement in World War I , Congress modified the method by which it authorized debt in the Second Liberty Bond Act of 1917 . Under this Act , Congress established an aggregate limit , or `` ceiling , '' on the total amount of new bonds that could be issued . </P>
<P> Under Article I Section 8 of the United States Constitution , only Congress can authorize the borrowing of money on the credit of the United States . From the founding of the United States until 1917 , Congress directly authorized each individual debt issued . To provide more flexibility to finance the United States ' involvement in World War I , Congress modified the method by which it authorized debt in the Second Liberty Bond Act of 1917 . Under this Act , Congress established an aggregate limit , or `` ceiling , '' on the total amount of new bonds that could be issued . </P>
who limits the level of the nation 's debt
who limits the level of the nation 's debt
Congress
Congress