spending authority

English translation: borrowing authority, contract authority, and entitlement authority for which appropriation acts do not provide budget authority

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:spending authority
Selected answer:borrowing authority, contract authority, and entitlement authority for which appropriation acts do not provide budget authority
Entered by: Charlesp

21:05 Nov 17, 2013
English language (monolingual) [PRO]
Bus/Financial - Economics
English term or phrase: spending authority
The US fiscal policy risks will play a less dominant role, though they could cause further bouts of volatility as deadlines for raising the spending authority approach.

Is this the same as saying "raising the debt ceiling"?

Thanks!!!
Laura Vinti
United States
Local time: 21:40
no
Explanation:
but it's complicated.

Here is the definition of "spending authority:"
The Congressional Budget Act of 1974 defines it as borrowing authority, contract authority, and entitlement authority for which appropriation acts do not provide budget authority in advance. ...

While debt ceiling is an upper limit set on the total amount that the federal government may borrow.
Selected response from:

Charlesp
Sweden
Local time: 03:40
Grading comment
Thank you!
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
5 +2no
Charlesp
4I think your understanding is correct
William Xie


  

Answers


4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
I think your understanding is correct


Explanation:
spending limit authorized by annual federal budget


    Reference: http://usgovinfo.about.com/od/federalbudgetprocess/a/budget_...
William Xie
China
Local time: 09:40
Specializes in field
Native speaker of: Native in ChineseChinese
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11 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
no


Explanation:
but it's complicated.

Here is the definition of "spending authority:"
The Congressional Budget Act of 1974 defines it as borrowing authority, contract authority, and entitlement authority for which appropriation acts do not provide budget authority in advance. ...

While debt ceiling is an upper limit set on the total amount that the federal government may borrow.


    Reference: http://democrats.rules.house.gov/archives/glossary_fbp.htm
Charlesp
Sweden
Local time: 03:40
Works in field
Native speaker of: English
PRO pts in category: 4
Grading comment
Thank you!

Peer comments on this answer (and responses from the answerer)
agree  Polangmar
14 hrs

agree  B D Finch
1 day 8 hrs
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