1、1 Less than one percent of total the debt is excluded from debt limit coverage. On May 7, 2003,total debt was $6,460,345 million; debt subject to limit was $6,399,975 million, 99.1% of totaldebt.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web
2、Order Code RS21111Updated May 16, 2003The Debt Limit: Why It Rose After Four Yearsof Surpluses and the Debt Changes SincePhilip D. WintersAnalyst in Government FinanceGovernment and Finance DivisionSummaryIncreases in total federal debt are driven by government deficits (which increasedebt held by t
3、he public) and by the surpluses credited to (and the accounting for) debt-holding federal accounts, mostly federal trust funds such as the Social Security,Medicare, Transportation, and Civil Service trust funds, which increase debt held bygovernment accounts. Surpluses generally reduce debt held by
4、the public. The surpluses over the fourfiscal years (1998-2001) reduced debt held by the public by $448 billion. The surplusescredited to debt-holding government accounts (which generally must invest thesurpluses in federal debt), increased their holdings by $853 billion over the same period.The com
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