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The U.S Debt - Online Term Paper

The U.S Debt

The U.S. debt is over $13 trillion, and does the Federal Government owe the sum of all outstanding debt. Nearly two-thirds is the public debt, which is owed to the people, businesses and foreign governments who bought Treasury Bills, Notes and Bonds. The U.S. debt is the largest in the world. Federal Budget Deficit Government debt is an accumulation of budget deficits. Year after year, the government cut taxes and increased spending. In the short run, the economy and voters benefited from deficit spending. This added interest payment expense usually forces a government to keep debt within reasonable limits. First, the Social Security Trust Fund took in more revenue through payroll taxes ...

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be paid back as the Baby Boomers retire. Over time, diminished demand for U.S. Treasuries will increase interest rates, thus slowing the economy.

How big is the U.S debt?

The U.S debt is currently at 13 trillion dollars and still rising. On November 8, 2006 the u.s national debt was 8.595 trillion dollars. It has rose about 5 trillion dollars since 2006. The U.S. treasury said that the U.S. debt should be up to 19.6 trillion dollars if we keep going at the rate we are ...

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The U.S Debt. (2011, May 16). Retrieved November 23, 2024, from http://www.essayworld.com/essays/The-U-S-Debt/99195

"The U.S Debt." Essayworld.com. Essayworld.com, 16 May. 2011. Web. 23 Nov. 2024. <http://www.essayworld.com/essays/The-U-S-Debt/99195>

"The U.S Debt." Essayworld.com. May 16, 2011. Accessed November 23, 2024. http://www.essayworld.com/essays/The-U-S-Debt/99195.

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PAPER DETAILS

Added: 5/16/2011 11:44:52 AM
Submitted By: Jayster_9000
Category: Government
Type: Free Paper
Words: 274
Pages: 1

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