Bureau of the Public Debt
I learned something new recently surfing the website of the Department of the Treasury. I knew that the Treasury tracked the debt, but not that there was a specific agency that focused just on this problem. When I saw the spreadsheets and reviewed the data (i.e. how MUCH money the government and by extension the PEOPLE owe) I was taken aback by the staggering figures. It is quite amazing that our elected representatives continue to dream up NEW or BETTER ways of spending our taxpayer 'contributions'. I put contributions in parathesis because a few people like to think of them as donations rather than mandated obligations to the 'public welfare'.
On their website this is what they write (full quote below) :
WHO WE ARE
You haven't heard of the Bureau of the Public Debt before? We're a small agency within the Department of the Treasury. Our customers are your neighbors, co-workers, and most likely you, too. You're our customer if you've ever bought any type of Treasury security for yourself or, as millions have done in the case of savings bonds, as a gift for someone else.
Our job is to borrow the money needed to operate the federal government and to account for the resulting debt. In a nutshell, we borrow by selling Treasury bills, notes, and bonds, as well as U.S. Savings Bonds; we pay interest to investors; and, when the time comes to pay back the loans, we redeem investors' securities. Every time we borrow or pay back money, it affects the outstanding debt of the United States.
We also provide reimbursable administrative, financial management and information technology services to a variety of Federal government entities through our Administrative Resource Center (ARC).
CHECK IT YOUR YOURSELVES:
http://www.publicdebt.treas.gov/
Write, email, call, fax, or visit your elected representatives TODAY!
On their website this is what they write (full quote below) :
WHO WE ARE
You haven't heard of the Bureau of the Public Debt before? We're a small agency within the Department of the Treasury. Our customers are your neighbors, co-workers, and most likely you, too. You're our customer if you've ever bought any type of Treasury security for yourself or, as millions have done in the case of savings bonds, as a gift for someone else.
Our job is to borrow the money needed to operate the federal government and to account for the resulting debt. In a nutshell, we borrow by selling Treasury bills, notes, and bonds, as well as U.S. Savings Bonds; we pay interest to investors; and, when the time comes to pay back the loans, we redeem investors' securities. Every time we borrow or pay back money, it affects the outstanding debt of the United States.
We also provide reimbursable administrative, financial management and information technology services to a variety of Federal government entities through our Administrative Resource Center (ARC).
I accessed the most up to date listing of the public debt.
Here it is (from 23 July 2009)
Debt held by the public:
*
$ 7,264,963,795,966.75
*
PLUS
*
Intergovernmental holdings:
*
$ 4,340,557,283,875.38
*
*
TOTAL PUBLIC DEBT (hold on to your seats!):
*
*
******$ 11,605,521,079,842.13******
*
*
Yes, it is over 11 (ELEVEN) TRILLION dollars!
CHECK IT YOUR YOURSELVES:
http://www.publicdebt.treas.gov/
Write, email, call, fax, or visit your elected representatives TODAY!
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