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The non-marketable securities are mainly the "government account series" owed to certain government trust funds such as the Social Security Trust Fund, which represented $2.82 trillion (~$3.45 trillion in 2023) in 2017. [23] The non-marketable securities represent amounts owed to program beneficiaries.
[4] [2]: 79–82 Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. [5] In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). [6]
National defense spending is any government spending attributable to the maintenance and strengthening of the United States Armed Forces, including the Army, Navy, Marines, and the Air Force. [14] As of the fiscal year 2019 budget approved by Congress, national defense is the largest discretionary expenditure in the federal budget. [13]
Ideally, the US government would match its spending to its revenue, avoiding debt entirely. Just like an individual, though, the government often has to pay for something it cannot afford ...
The government needs to borrow money to continue paying out what Congress has already approved, but the debt ceiling puts a limit on how much money the U.S. government can borrow to pay its bills.
The Senate approved a slimmed-down, temporary government spending plan early Saturday morning, averting a shutdown of the federal government. President Joe Biden signed the bill into law later ...
Defense Spending 2001–2017 Interest to GDP, a measure of debt burden, was very low in 2015 but is projected to rise with both interest rates and debt levels over the 2016-2026 period. During FY2018, the federal government spent $4.11 trillion, up $127 billion or 3.2% vs. FY2017 spending of $3.99 trillion.
Higher U.S. debt gives the American government less flexibility because there are legislative limits on how much the government can borrow. This is why there has been so much talk in recent years ...