US Government Finance: US Federal Government Public Debt October, Dr. Edward Yardeni -97-7 eyardeni@ Debbie Johnson -- djohnson@ Mali Quintana -- aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents Federal Government Debt - US Treasury Debt Foreign Official Assets Total Outstand Marketable Debt Public Debt 7 October, / US Federal Government Public Debt www.
Figure. FDR Truman Eisenhower Kennedy Johnson Federal Government Debt Nixon Ford Carter Reagan Bush I Clinton Bush II Obama US FEDERAL GOVERNMENT DEBT (trillions dollars, nsa) Statutory Debt Limit (.) Subject to Debt Limit (9.) Publicly Held Debt (.) 7 7 7 7 7 9 9 9 9 9 Note: Blue (red) shades represents Democrats (Republicans) in White House. Source: Monthly Statement of the Public Debt of the United States..... Figure. US FEDERAL GOVERNMENT DEBT (trillion dollars, nsa, ratio scale)....... Statutory Debt Limit (.) Subject to Debt Limit (9.) Publicly Held Debt (.).. 7 7 7 7 7 9 9 9 9 9. Note: Blue (red) shades represents Democrats (Republicans) in White House. Source: Monthly Statement of the Public Debt of the United States. Page / October, / US Federal Government Public Debt www.
Federal Government Debt Figure. US FEDERAL GOVERNMENT DEBT (trillion dollars, nsa) Subject to Debt Limit (9.) Publicly Held Debt (.) Publicly Held Debt Excluding Fed s Holdings* (.7) 7 9 7 * Using Fed s data on Fed holdings of public debt, not Treasury s data. Source: Monthly Statement of the Public Debt of the United States.. Figure. PUBLIC DEBT HELD BY FEDERAL RESERVE BANKS (trillion dollars) Jun. /. Treasury s data (.). Fed s data (.)... 9 9 9 97 9 99 7 9 7 9 Soure: US Treasury and Federal Reserve Board. Page / October, / US Federal Government Public Debt www.
Federal Government Debt. 7. Figure. US FEDERAL DEBT HELD BY THE FEDERAL GOVERNMENT (trillion dollars, nsa). 7. 7. 7..................... 997 99 999 7 9 7 Source: Monthly Statement of the Public Debt of the United States.... 7. Figure. US FEDERAL DEBT HELD BY THE FEDERAL GOVERNMENT (trillion dollars, nsa). 7. 7. 7................ Total (7.) Excluding Fed Holdings* (.)....... 997 99 999 7 9 7.. * Using Fed s data on Fed s holdings of public debt, not Treasury s data. Source: Monthly Statement of the Public Debt of the United States. Page / October, / US Federal Government Public Debt www.
US Treasury Debt Figure 7. US TREASURY DEBT HELD BY THE PUBLIC (trillion dollars, nsa) 9 9 7 Publicly Held Treasury Securities Outstanding Marketable* 7 7 7 7 7 7 9 9 9 9 9 * Marketable interest-bearing bills, notes and bonds. Source: US Treasury Department, Monthly Statement of the Public Debt of the United States. 9 Figure. US TREASURY DEBT HELD BY THE PUBLIC (trillion dollars, nsa) 9 7 Marketable Interest-Bearing Bills Notes 7 Bonds 7 7 7 7 7 9 9 9 9 9 Source: US Treasury Department, Monthly Statement of the Public Debt of the United States. Page / October, / US Federal Government Public Debt www.
Figure 9. FOREIGN OFFICIAL DOLLAR RESERVES (Monthly) (billion dollars, nsa) FRODOR US Treasuries US Treasuries Plus US Federal Agency Securities US Federal Agency Securities 7 9 7 Source: Board of Governors of the Federal Reserve System. Foreign Official Assets Figure. US FEDERAL DEBT HELD BY FOREIGN INVESTORS (as a percent of total federal debt held by the public) Q All Foreign Investors Foreign Central Banks* 7 9 9 9 9 9 9 9 9 97 9 99 7 9 7 Q * Data from 9 to 99 are foreign official assets held at the Fed in US Treasuries. From 997 to the present, data are marketable US Treasury securities held by the Fed for foreign and international accounts. Source: Federal Reserve Board, Flow of Funds Accounts. Page / October, / US Federal Government Public Debt www.
7 Figure. Total Outstand Marketable Debt TOTAL OUTSTANDING MARKETABLE DEBT: AVERAGE MATURITY (months) 7 7 Q 7 7 9 9 9 9 9 9 9 9 97 9 99 7 9 7 Source: US Treasury and Haver Analytics. Figure. NET INTEREST PAID BY FEDERAL GOVERNMENT (-month sum as a percent of -month average of publicly held Treasury debt) Aug 7 9 7 Source: US Treasury Department and Monthly Statment of the Public Debt of the United States. Page / October, / US Federal Government Public Debt www.
9 Figure. PUBLIC DEBT OUTSTANDING PER CAPITA (thousand dollars) Public Debt 9 7 7 Divided by: Household Employment (.) Labor Force (.) Working Age Population (77.) 7 7 7 7 7 9 9 9 9 9 Source: US Treasury Department and US Department of Labor, Bureau of Labor Statistics.... Figure. PUBLIC DEBT OUTSTANDING Aug......... Divided by Annualized: Wages & Salaries Disposable Personal Income Less Government Social Benefits to Persons Aug........... 7 7 7 7 7 9 9 9 9 9 Source: US Treasury Department and US Department of Labor, Bureau of Labor Statistics.. Page 7 / October, / US Federal Government Public Debt www.
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