Federal Debt. Answers to Frequently Asked Questions. An Update;Report to Congress

摘要

This report updates information in our 1999 publication, Federal Debt: Answers to Frequently Asked Questions-An Update (GAO/OCG-99-27, May 28, 1999). At the time of our last publication, the federal government was running budget surpluses, and debt held by the public was projected to drop to historically low levels. This report provides updated information to reflect the changes in the nation's fiscal condition and outlook. Our update addresses frequently asked questions about the federal debt, deficits, and surpluses. In this update, we present current information on how federal debt is defined and measured, the relationship between federal debt and the budget and the economy, federal debt management and ownership, and future policy issues regarding federal debt. As in our earlier reports, we attempt to provide the information in a clear, concise, and easily understandable manner for a nontechnical audience. In updating this report, we draw on our previously issued work on budget issues, federal debt, national saving, and long-term fiscal challenges as well as our review of relevant literature.