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The United States has the largest external debt in the world. The total number of U.S. Treasury securities held by foreign entities in December 2021 was $7.7 trillion, up from $7.1 trillion in December 2020. [8] Total US federal government debt breached the $30 trillion mark for the first time in history in February 2022. [9]
In 2015, the federal government exceeded their overall goal of 23% by 2.75% resulting in $90.7 billion dollars awarded to small businesses, [5] 5.05% ($17.8 billion) of which went to women-owned small business (WOSB), meeting the goal for the first time since it was implemented in 1996. [6]
The federal government ended fiscal year 2024 with a $1.8 trillion deficit, and has run a deficit every year since 2001. Total federal liabilities and unfunded social insurance obligations now ...
In federal government contracting, the specific regulatory authority is required for the Government's agent to enter into the contract, and that agent's bargaining authority is strictly controlled by statutes and regulations reflecting national policy choices and prudential limitations on the right of federal employees to obligate federal funds.
The U.S. national debt broke a new record after crossing the $36 trillion mark for the first time as the federal government's mounting budget deficits cause the debt to surge.
Between 1989-2020, the national debt soared by more than 800% as Congresses and presidents from both parties approved massive spending increases and massive tax cuts at the same time.
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
In 1835, the national debt hit a low of $33,733 when Andrew Jackson was president. But the U.S. started borrowing again as the economy entered a recession in 1837.