Date: February 17, 2016
Creator: Driessen, Grant A.
Description: This report explores distinctions in the concept and composition of deficits and debt, explains how these two measures interact, and discusses their possible effects on the economy. The combination of persistent budget deficits and a large and increasing federal debt has generated discussions over the long-term sustainability of current budget projections. Federal debt totaled $18.922 trillion at the end of calendar year 2015, and as a percentage of GDP is at its highest value since the end of World War II; $13.673 trillion of that debt was held by the public.
Contributing Partner: UNT Libraries Government Documents Department