Deficits and the National Debt Unit 15.3

The Federal Deficit and Debt Budget Surplus Budget Deficit Deficit Spending National Debt

Causes of the Deficit National Emergencies Need for Public Goods and Services Stabilization of the Economy Role of Government in Society Raising Money for Deficit Spending Treasury Bills: Less than a year Treasury Notes: 2 to 10 years Treasury Bonds: 30 years

The National Debt Size of the National Debt Approx $19, 913,376,000 as of 18 May 17 Effect of the Deb on the Economy Crowding-out effect