The following table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2007 and June 2011. The national debt represents the total amount of money owed by the federal government to holders of U.S. securities. All numbers are in trillions of dollars. June 2007 June 2011 GDP (Trillions of Dollars) 13.7 15.2 Total National Debt (Trillions of Dollars) Source: "U.S. Treasury, Bureau of Economic Analysis." 8.9 14.3 Debt Held by Federal Government and Federal Reserve (Trillions of Dollars) 4.7 4.6 Debt Held Outside Fed. Govt. and Fed. Reserve Foreign Ownership (Trillions of Dollars) 2.2 4.5 U.S. Ownership (Trillions of Dollars) 2.0 5.2
The following table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2007 and June 2011. The national debt represents the total amount of money owed by the federal government to holders of U.S. securities. All numbers are in trillions of dollars. June 2007 June 2011 GDP (Trillions of Dollars) 13.7 15.2 Total National Debt (Trillions of Dollars) Source: "U.S. Treasury, Bureau of Economic Analysis." 8.9 14.3 Debt Held by Federal Government and Federal Reserve (Trillions of Dollars) 4.7 4.6 Debt Held Outside Fed. Govt. and Fed. Reserve Foreign Ownership (Trillions of Dollars) 2.2 4.5 U.S. Ownership (Trillions of Dollars) 2.0 5.2
Chapter22: The Public Sector
Section: Chapter Questions
Problem 4SQ
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