Question

What is the one major category that separates national debt from public debt?

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

The public holds over $21 trillion, or almost 78%, of the national debt. 1 Foreign governments hold about a third of the public debt, while the rest is owned by U.S. banks and investors, the Federal Reserve, state and local governments, mutual funds, and pensions funds, insurance companies, and savings bonds.

Lower national savings and income. Higher interest payments, leading to large tax hikes and spending cuts. Decreased ability to respond to problems. Greater risk of a fiscal crisis.