What is meant by the term National Debt?
Submitted by: AdministratorWhen a government spends more than it receives in taxes, it runs a budget deficit, which is usually covered by issuing debt obligations to domestic and/or international investors. In the US, these obligations are Treasury bills, Treasury notes, and Treasury bonds. The total outstanding amount of such obligations constitutes a National Debt.
Submitted by: Administrator
Submitted by: Administrator
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