美国债务基本情况

2011-7-30 HOME PAGE TODAY'S PAPER VIDEO Charting the American Debt Crisi… MOST POPULAR TIMES TOPICS Log In Register Now Help Search All NYTimes.com U.S. WORLD U.S. N.Y. / REGION BUSINESS TECHNOLOGY EDUCATION BAY AREA CHICAGO TEXAS SCIENCE HEALTH SPORTS OPINION ARTS STYLE TRAVEL JOBS REAL ESTATE AUTOS POLITICS Advertise on NYTimes.com UPDATED July 29, 2011 TWITTER SIGN IN TO E-MAIL SHARE Charting the American Debt Crisis America has a long history of raising the debt limit to accommodate spending. Below, a look at some of the issues in the debate over the nation’s debt. When Money Will Run Out Payments That Will Be Due How the Debt Accumulated History of Raising the Limit How Bond Rates Could Rise Published: July 27 Estimates of When the U.S. Will Run Out of Money If Congress does not raise the debt ceiling, the U.S. Treasury will run out of cash reserves to pay for obligations like Social Security, Medicare and Medicaid, and defense contracts. The chart below shows the amount of the nation’s cash reserves and estimates for when it will run out if the debt ceiling is not raised. Related Article » May 16 As the U.S. reached its debt limit, the U.S. Treasury instituted what Secretary Geithner called “extraordinary measures” to provide $232 billion while a budget deal was negotiated. Aug. 3 Obama administration estimate for when it will exhaust its borrowing authority. Aug. 10 Estimate by many Wall Street and Washington analysts. Source: Bipartisan Policy Center Published: July 29 Payments the Government Will Need to Make After Aug. 2 The United States pays billions of dollars in mandatory expenses every weekday. The government says Aug. 2 is the last day it can pay its bills if the debt limit is not increased. Here are estimates of the amount of revenue the government will receive each day and the payments due during the two weeks after the deadline. Est. total daily revenues Est. total daily expenses In billions WEDNESDAY SocialInterest Defense Medicare/ WelfareFederalDept. of Security payments vendors Medicaid programs salaries Education Other Aug. 3 $12 $32 $23 $1.4 $2.2 $1.4 $1.8 $0.5 $1.7 A large $23 billion Social Security payment is due the first day the government says it will be unable to pay all obligations. THURSDAY A4 nytimes.com/…/charting-the-amer… $4 $10 $1 4 $3 1 $1 1 $0 5 $0 5 $3 4 1/5 2011-7-30 Aug. 4 Charting the American Debt Crisi… $4 $10 $1.4 $3.1 $1.1 $0.5 $0.5 $3.4 $91 billion in short-term debt matures. FRIDAY Aug. 5 $7 $12 $2 $2.2 $1.1 $1 $3.4 $2.3 Paycheck s due to federal employees. MONDAY Aug. 8 TUESDAY $11 $4 $10 $11 $11 $19 $8.5 $1.4 $2.2 $1.8 $1.5 $1.6 $2.5 Aug. 9 WEDNESDAY $1.4 $2.5 $1.4 $1.5 $0.5 $3.7 Aug. 10 $1.4 $2.2 $1.4 $0.8 $0.5 $4.2 $8.5 billion in Social Security payments are due. Many analysts predict this as the day the government will no longer be able to pay all its bills. THURSDAY Aug. 11 $3 $11 $1.4 $3 $1 $0.6 $1 $4 $93 billion in short-term debt matures. FRIDAY Aug. 12 MONDAY $10 $22 $9 $41 $29 $2 $2.2 $3 $0 Aug. 15 $1.4 $2.2 $2.1 $0.8 $0.5 $2 A major $29 billion interest payment is due. Long-term debt worth $27 billion matures. Many analysts predict this is the latest possible date the government would be able to pay its obligations. Source: Bipartisan Policy Center Published: July 28 How the U.S. Got $14 Trillion in Debt and Who Are the Creditors Who Holds the Debt $14.3 trillion When the Debt Was Accumulated President Obama (2009-11) Stimulus spending, tax cuts, and the effects of 2007-9 recession in lost revenues and automatic spending, like unemployment compensation. The Public Includes debt held by individuals, corporations, banks and insurance companies, pension and mutual funds, state and local governments. China Foreign Countries Japan Britain Oil-exporting countries Other countries FEDERAL RESERVE SYSTEM George W. Bush (2001-9) Tax cuts, the wars in Iraq and Afghanistan, economic downturn in 2001 and recession starting in 2007. Includes collateral for U.S. currency and store of liquidity for emergency needs. U.S. Gov’t SOCIAL SECURITY TRUST FUNDS Surpluses generated by Bill Clinton (1993-2001) Despite two years of on-budget surpluses, deficit spending in other years added to the debt. George Bush (1989-93) The first gulf war and lower revenue from a recession. Ronald Reagan (1981-89) Peacetime defense spending and permanent tax cuts. Before Reagan (1981 AND EARLIER) Deficit spending from wars and economic downturns. the program that have been invested in government bonds. OTHER GOV’T TRUST FUNDS Sources: Department of the Treasury, Financial Management Service, Bureau of the Public Debt; Federal Reserve Bank of New York; Office of Management and Budget nytimes.com/…/charting-the-amer… 2/5 2011-7-30 Charting the gAmerican Debt Crisi… g Published: April 10 How Often the Debt Limit Has Been Raised By the Treasury Department's count, Congress has acted 78 times since 1960 to raise, extend or alter the definition of the debt limit — 49 times under Republican presidents, and 29 times under Democratic presidents. Related Article » In 1940, the debt limit was about $43 billion. It was raised as high as $300 billion during World War II. The debt limit has been increased 140 percent since 2000, when it was $6 trillion. Proposals would raise the limit of $14.3 trillion by $2.5 to $2.7 trillion. U.S. Debt Limit Since 1940 Debt Limit as a Percentage of G.D.P. Sources: Office of Management and Budget; Bureau of Economic Analysis Published: July 26 How Bond Rates Could Rise If the U.S. Rating Is Lowered If the AAA rating of the United States was lowered, bond rates would most likely rise, making it costlier to pay the interest on its debt. Related Article » STANDARD & POOR’S SOVEREIGN RATING OUTLOOK 10-YEAR GOVERNMENT BOND YIELD Switzerland Hong Kong Sweden Germany Canada United States Denmark Britain Netherlands Finland Norway Austria France Australia Belgium AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AAA AA+ Stable Stable Stable Stable Stable Watch Neg. Stable Stable Stable Stable Stable Stable Stable Stable Negative 1.5% 2.3 2.7 2.7 2.9 3.0 3.0 3.1 3.1 3.1 3.2 3.3 3.3 4.9 4.3% nytimes.com/…/charting-the-amer… 3/5 2011-7-30 g New Zealand Slovenia Spain Japan China Charting the American Debt Crisi… g AA+ AA AA AA– AA– A+ A+ A A A A– A– Negative Negative Negative Negative Stable Stable Negative Positive Stable Stable Stable Stable 5.1 4.3% 6.0 1.1% 4.1 4.2% 5.6 3.9% 4.2 5.2 3.9% 5.8 Slovak Republic Italy Czech Republic South Korea Israel Malaysia Poland Sources: Standard & Poor’s; Bloomberg By AMANDA COX, ELAINE HE, ALAN McLEAN, KARL RUSSELL, ARCHIE TSE and LISA WAANANEN | Send Feedback Home World U.S. N.Y. / Region Business Technology Science Health Map Sports Opinion Arts Style Travel Jobs Real Estate Autos Site © 2011 The New York Times Company Privacy Your Ad Choices Terms of Service Advertise Terms of Sale Corrections RSS Help Contact Us Work for Us nytimes.com/…/charting-the-amer… 4/5 2011-7-30 Charting the American Debt Crisi… nytimes.com/…/charting-the-amer… 5/5