A brief history and explanation of the U.S. debt ceiling (video): http://video.nytimes.com/video/2011/07/26/business/100000000967340/the-history-of-the-debt-limit.html
The ceiling hit a trillion in September 1981, under Ronald Reagan (1981-1989). How the federal debt limit has grown from its inception in 1917, by the numbers: http://usgovinfo.about.com/od/federalbudgetprocess/a/US-Debt-Ceiling-History.htm
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