Liberty bond

That includes the Liberty Bond Act of 1917, which created the debt ceiling limit.

During World War I, Congress passed the Second Liberty Bond Act of 1917 to give the Treasury more flexibility to issue debt and manage federal finances.

“This pledge does represent a sacrifice. I am already committed to a fifty-dollar Liberty Bond.”

“That’s your down payment. Four more payments of just ten dollars each and you’ll have yourself a bonafidey United States guaranteed Liberty Bond,” he said.

I wouldn’t have been able to buy even a penny’s worth of war stamps otherwise, let alone a Liberty Bond.