Gross public debt is
A) an excess of government spending over government revenues during a given time period.
B) a situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given time period.
C) the total value of budget deficits plus budget surpluses over the past five years.
D) all federal government debt irrespective of who owns it.

Question

Quizplus · Accepted Answer

Gross public debt is the total amount of debt owed by the federal government, including Treasury bills, notes, and bonds, as well as any other types of securities. It includes all debt that the government has issued, regardless of who owns it.

Gross Public Debt Is