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National Government Debt Data

The Gross Federal Debt Of The United States

The U.S. government debt, commonly called the national government debt or the gross federal debt, is the amount of money owed by the United States federal government. This does not include the money owed by states, corporations, or individuals. As of May 2005, the total government debt is approximately $7.8 trillion, i.e. $7,800,000,000,000. This is more than ten times the amount of United States currency in circulation as of 2005, estimated to be $730 billion. The debt can also be measured as a fraction of the nation's gross domestic product (GDP); at present, U.S. public debt is about 65% of the GDP, a rather average level when compared to other nations. The debt of the U.S., calculated to the penny.

In several cities around the United States, but most famously at Times Square in New York City, there are national government debt clocks—electronic billboards which supposedly show the amount of money owed by the government. Some also attempt to show the money owed per capita or per family. A division of the United States Treasury Department known as the Bureau of the Public Debt calculates the amount of money owed by the national government on a daily basis. There is a significant level of fluctuation day-to-day, both up and down, so any "clocks" must be continually re-set with proper values.

Structure of the debt
The Bureau of the Public Debt divides the government debt into two main categories: debt held by the public, and intra-governmental holdings. Governmental debt includes money for government trust funds, such as pension plans and the debt for social security which is about $1.7 trillion as of May 2005. Overall, intra-governmental holdings account for over $3.1 trillion of the total debt at this time.

Paying the debt
The publicly-held debt of the U.S. government is simply repaid whenever securities are returned for payment. The debt cannot be paid right away, partially because many securities are issued for decades-long periods.

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