The United States Government is the world's largest debtor. It owes nearly $2 trillion and is borrowing more at a rate of approximately $200 billion a year. This report explains the basics of how the Government goes about borrowing these sums.
Abstract -- Introduction -- The Auction Process and Competitive Determination of Interest Rates -- Bills, Bonds, and Notes -- Savings Bonds, Government Accounts, and Non-Negotiable Securities -- Agency Issues and the Federal Financing Bank -- Tax Treatment -- Innovations -- Borrowing from the Federal Reserve and Non-Interest Bearing Debt -- Conclusion.
Thomas Woodward, Analyst in Public Finance, Economics Division.
CRS 85-762 E
"May 28, 1985."
SuDoc# 14. 18/3
