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Whats the difference between the Public Debt Outstanding and the Public Debt Subject to Limit?

April 26, 2017debt limit public Subject

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Whats the difference between the Public Debt Outstanding and the Public Debt Subject to Limit?

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The Public Debt Outstanding represents the face amount or principal amount of marketable and non-marketable securities currently outstanding. The Public Debt Subject to Limit is the maximum amount of money the Government is allowed to borrow without receiving additional authority from Congress. Furthermore, the Public Debt Subject to Limit is the Public Debt Outstanding adjusted for Unamortized Discount on Treasury Bills and Zero Coupon Treasury Bonds, Miscellaneous debt (very old debt), Debt held by the Federal Financing Bank and Guaranteed Debt.