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Unformatted text preview: A huge chunk of revenue goes to paying off bond holders Ownership of Privately Held US Public Debt $3,334.0 billion in privately held debt 215 billion in commercial banks 351.6 billion in individual debt 186 billion in Insurance companies 105.8 billion in money market funds 267.9 billion in corporations 490 billion in state and local governments 1,276.3 billion in foreign and international investment 1998 Interest Paid on US Federal Debt $363,823,722,920.26 US debt on 4/2/99 at 7:51 am $5,665,492,644,429.16 Increase of $12,300,000 since the beginning of class Even with balanced budget it is still going up...
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- Spring '99