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The Debt Limit: History and Recent Increases

dc.contributor.authorAustin, D. Andrew
dc.contributor.authorLevit, Mindy R.
dc.date.accessioned2020-11-25T15:09:28Z
dc.date.available2020-11-25T15:09:28Z
dc.date.issued2013-10-15
dc.description.abstractTotal federal debt can increase in two ways. First, debt increases when the government sells debt to the public to finance budget deficits and acquire the financial resources needed to meet its obligations. This increases debt held by the public. Second, debt increases when the federal government issues debt to certain government accounts, such as the Social Security, Medicare, and Transportation trust funds, in exchange for their reported surpluses. This increases debt held by government accounts. The sum of debt held by the public and debt held by government accounts is the total federal debt. Surpluses reduce debt held by the public, while deficits raise it.
dc.description.legacydownloadsCRS_The_Debt_Limit.pdf: 219 downloads, before Oct. 1, 2020.
dc.identifier.other4757029
dc.identifier.urihttps://hdl.handle.net/1813/77461
dc.language.isoen_US
dc.subjectdebt limit
dc.subjectpublic debt
dc.subjectgovernment debt
dc.subjectfederal budget
dc.subjectCongress
dc.titleThe Debt Limit: History and Recent Increases
dc.typeunassigned
local.authorAffiliationAustin, D. Andrew: Congressional Research Service
local.authorAffiliationLevit, Mindy R.: Congressional Research Service

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