The United States debt refers to the total amount of money owed by the federal government (TreasuryDirect, 2014). By the conclusion of the 2013 financial year, the federal debt was $16.74 trillion, according to the United States Treasury. This debt arises from loans made to the people, businesses, and other foreign governments in terms of treasury bills and bonds. The United States federal government owes approximately one-third of the total debt. The United States debt grew by approximately $10 trillion dollars for the past ten years.
US Debt: What is the US debt? Custom Essay
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