Teacher Resources: Economic Barometer

Description

The U.S. federal debt, or national debt, is the total indebtedness of the federal government in the form of outstanding bonds and Treasury notes. This represents the sum of all annual federal budget deficits and surpluses.

The Treasury department of the U.S. government has an obligation to continue to borrow money to fund the federal debt. This is done by selling interest bearing bonds and notes to a wide array of U.S. individuals, business, financial institutions, inter governmental agencies

Sources

http://www.cbo.gov/budget/historical.shtml