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The ‘debt held by the public,” according to the Treasury, includes “all federal debt held by individuals, corporations, state or local governments, foreign governments, and other entities outside the United States Government.” Among the types of Treasury securities included in the “debt held by the public” are Treasury bills (which mature in one year or less), Treasury notes (which mature in two to 10 years), Treasury bonds (which mature in 30 years), U.S. Savings Bonds, and Treasury Inflation-Protected Securities.
Do any of you actually know what that linked article is talking about? Read it.
In a nutshell the US continues to borrow at elevated amounts.
That's what it really amounts to. We have less revenue to fund our programs so we need to borrow more..hence the huge increase.
It's nothing to dismiss or try to justify.
Our Congress is too afraid to make cuts that are necessary. We continue to spend way beyond our revenue and each year must borrow MORE to make ends meet.
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