What is meant by the term national debt?, Macroeconomics

When a government spends more than it receives in taxes; it runs a budget deficit, which is generally covered by issuing debt obligations to domestic and/or international investors. In the US, these obligations are Treasury bills, Treasury bonds, and Treasury notes. The total outstanding amount of such obligations constitutes a National Debt.

 

Posted Date: 4/1/2013 5:09:42 AM | Location : United States







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