It Can Cost More Than It Is Worth

THE DEBT CEILING

A PRIME financial question confronting the Administration is whether or not Congress should be asked to increase the national debt limit beyond its present $275 billion ceiling. The federal debt last week stood at $273,351,797,516.09, only $1.7 billion under the legal ceiling and with seven months still to go in fiscal 1958. The Treasury steadfastly maintains that it can squeeze by under the ceiling. But many Administration economists doubt it. They argue that the debt limit must be raised, not only so that the U.S. can go on paying its bills, but also because the $275 billion ceiling...