The California Debt and Investment Advisory Commission (CDIAC) provides information, education, and technical assistance on debt issuance and public. Section 4 Public Debt.Completely fill in the oval to the right of your Candidate choice. The debt ceiling, created under the Second Liberty Bond Act of 1917, sets the maximum amount of money that the United States can borrow. Public comments are limited to 3 minutes. This letter was sent to the White House, on a proposal to use the 14th Amendment to issue new debt over and above the debt limit. The Third District Court chose not to consider Mullane or the 5th and 14th Amendments. The 14th amendment says that any debt the United States has taken on must be honored. Bicycle parking is available on the street and in the BART station as well as in electronic lockers at 14th Street and Broadway near. Debt Limit Allocation Committee.