A Graphical Update on the National Debt
by Knoxville Tea Party
November 2018
Simply put, money is supposed to represent goods or services that someone has produced, that you could trade the money for if you wished.
But when the federal government borrows money to pay benefits and bills, the federal government is promising people goods and services that have not been produced. It is promising things that it does not have, and which it hopes to take from future generations.
The graphic below presents the debt at the beginning and end of the previous administration, and the present-day situation, as currently reported by the United States Department of the Treasury.
"Debt Held by the Public" represents mostly Treasury bonds sold to the public.
"Intergovernmental Holdings" represent mostly monies taken from Social Security revenues, but are not technically debt because there is no legal obligation to repay the monies.
https://www.treasurydirect.gov/govt/reports/pd/pd_debttothepenny.htm
by Knoxville Tea Party
November 2018
Simply put, money is supposed to represent goods or services that someone has produced, that you could trade the money for if you wished.
But when the federal government borrows money to pay benefits and bills, the federal government is promising people goods and services that have not been produced. It is promising things that it does not have, and which it hopes to take from future generations.
The graphic below presents the debt at the beginning and end of the previous administration, and the present-day situation, as currently reported by the United States Department of the Treasury.
"Debt Held by the Public" represents mostly Treasury bonds sold to the public.
"Intergovernmental Holdings" represent mostly monies taken from Social Security revenues, but are not technically debt because there is no legal obligation to repay the monies.
https://www.treasurydirect.gov/govt/reports/pd/pd_debttothepenny.htm
