Ownership of US Public Debt

Ownership of US Public Debt - • A huge chunk of revenue...

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Econ 4.3 Monday, April 12, 1999 Announcements: Homework is due on Friday. Online quiz will be taken offline on Friday. Lecture notes: US Debt @ 4/12/99, 7:14 am $5,665,480,356,644.83 Debt is oppressive, unless you go bankrupt, you have to pay it Ownership of US Public Debt Bureau of the Public Debt Federal Debt Outstanding, December 1998 $5,555.6 billion + total outstanding 1,756.6 billion held in US government Accounts 458.1 billion held in Federal Reserve Banks 3,331.9 billion in privately held debt Federal Debt Finance and Interest Rates $5,555.6 billion in outstanding debt $222.2 billion in interest at 4% Interest $277.8 billion in interest at 5% Interest $333.3 billion in interest at 6% Interest
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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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Ownership of US Public Debt - • A huge chunk of revenue...

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