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View History Bookmarks Tools Window Help X Mind Tap - Cengage Learning X Logins & Passwords X https:/g.cengage.com/staticb/ui/evo/index.html?deploymentid=5832642451 ENGAGE MINDTAP Homework: Federal Budgets and Public Policy Attempts Average / 4 6. The public debt - Ownership The following table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2001 and June 2010. The national debt represents the total amount of money owed by the federal government to holders of U.S. securities. All numbers are in trillions of dollars. Total National Debt Held Outside Fed. Gout. and Fed. GDP Debt Debt Held by Reserve Trillions of Trillions of Federal Dollars) Dollars) Government Foreign Ownership U.S. Ownership and Federal (Trillions or (Trillions of Reserve Dollars) Dollars) Trillions of Dollars June 2001 10.1 5. 3. June 2010 14.5 1312 Source PUIS. Treasury Bureau Publicly held debt is the portion of the national debt that is held outside the rederal government and the Federal Reserve System. In June 2001, the publicly held debt as a percentage of total national debt was In June 2001, the percentage of the U.S. national debt held by foreigners was The traction of the national debt held by foreigners will eventually need to be repaid to foreigners, thereby reducing the collective purchasing power of Americans. Between 2001 and 2010, the fraction of the national debt held by foreigners_ The absolute level of the debt does not necessarily provide a clear indication of a nation's debt burden. Thus, economists often look at relative measures of the national debt. One possible relative measure or the national debt is the federal debt held by the public (outside the federal government and the Federal Reserve) as a percentage of GDP. In 2001, publicly held debt was or GDP. Between 2001 and 2010, publicly held debt as a percentage of GDP Grade It Now Save & Continus Continue without saving