When the U.S. government spends more than it receives, it typically finances the shortfall by selling IOUs, commonly called _____.

Name: When the U.S. government spends more than it receives, it typically finances the shortfall by selling IOUs, commonly called _____.
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The U.S. government finances shortfalls or deficits by issuing debt securities known as treasuries, which include Treasury bonds, notes, and bills.