Reaching the Debt Limit: Background and Potential Effects on Government Operations

Description

The gross federal debt, which represents the federal government's total outstanding debt, consists of two types of debt: (1) debt held by the public and (2) debt held in government accounts, also known as intragovernmental debt. Federal government borrowing increases for two primary reasons: (1) budget deficits and (2) investments of any federal government account surpluses in Treasury securities, as required by law. Nearly all of this debt is subject to the statutory limit. The federal debt limit currently stands at $14,294 billion.

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26 pages.

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Levit, Mindy R.; Brass, Clinton T.; Nicola, Thomas J.; Nuschler, Dawn & Shelton, Alison M. May 31, 2012.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 117 times . More information about this report can be viewed below.

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Description

The gross federal debt, which represents the federal government's total outstanding debt, consists of two types of debt: (1) debt held by the public and (2) debt held in government accounts, also known as intragovernmental debt. Federal government borrowing increases for two primary reasons: (1) budget deficits and (2) investments of any federal government account surpluses in Treasury securities, as required by law. Nearly all of this debt is subject to the statutory limit. The federal debt limit currently stands at $14,294 billion.

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26 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • May 31, 2012

Added to The UNT Digital Library

  • June 15, 2012, 10:07 a.m.

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  • Aug. 12, 2015, 9:48 p.m.

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Levit, Mindy R.; Brass, Clinton T.; Nicola, Thomas J.; Nuschler, Dawn & Shelton, Alison M. Reaching the Debt Limit: Background and Potential Effects on Government Operations, report, May 31, 2012; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc86573/: accessed November 14, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.