What is Debt Outstandingsubject To Limitation?

Obligations incurred by the Treasury subject to the statutory limit set byCongress. Until World War 1, a specific amount of debt was authorized for each separatesecurity issue. Beginning with the Second LibertyLoan Act of 1917, the nature of the limitation was modified until, in 1941, it developedinto an overall limit on the outstanding Federal debt. The statuatory limit may change from year to year.Debt ratioTotal debt divided by total assets.