Congress kicked the debt ceiling can to mid-May, but the fourth-quarter gross domestic product report Wednesday morning offered a reminder of what can be at stake.
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2.
The remainder of the proposal would cap all federal spending at 18 percent of Gross Domestic Product and enact a Constitutional amendment to both enforce that 18 percent ceiling and bar any tax increases.
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3.
The Commission's proposal for the long-term budget, called the Multiannual Financial Framework, sets the ceiling at just over one trillion euros, or 1.03% of EU gross national income.
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