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Glossary term Statutory debt limit: The cap that Congress imposes on the amount of public debt that may be outstanding whether temporary or permanent. When this limit is reached, the Treasury may not sell new debt issues until Congress raises the limit. For a detailed listing of changes in the limit since 1941, see Budget of the United States Government. See: Debt outstanding subject to limitation.
Glossary term Deductive reasoning: Using known facts to draw a conclusion about a specific situation.
Glossary term Debt ceiling: Debt limit
Glossary term Comfort letter: A letter from an independent auditor included in a preliminary prospectus stating that, while a full audit has not been undertaken, the auditor has done a 'review' sufficient to assure that financial statement information in the preliminary prospectus is correctly prepared to the best of the auditor's knowledge. The auditor in effect states that, had a full audit been done, they are comfortable that the audited financial statements would not be materially different from the ones presented in the preliminary prospectus.
Glossary term Complexity Theory: The theory that processes with a large number of seemingly independent agents can spontaneously organize themselves into a coherent system.