Ownership of US Public Debt

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

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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 goes...

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