The difference between the gross public debt and the net public debt is
A)the sum of all previously accumulated government budget deficits and surpluses.
B)the sum of all previously issued U.S. government securities that have been purchased by foreign residents.
C)all private-sector borrowing from private sources.
D)all government interagency borrowing.

Question

Quizplus · Accepted Answer

Gross public debt includes all government debt, while net public debt excludes interagency borrowing, which is debt the government owes to itself.

The Difference Between the Gross Public Debt and the Net