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To: Les H who wrote (37437)	1/14/2000 10:11:00 AM
From: Les H	Read Replies (1) \| Respond to of 99985

OT re: budget The gross federal debt is the other number which is growing since the debt issuance is piling up in Social Security trust fund. teleport.com bradbva.home.mindspring.com

To: Les H who wrote (37437)	1/14/2000 10:16:00 AM
From: KyrosL	Read Replies (2) \| Respond to of 99985

Les, the $160 billion "increase" in debt last year is because of the "interest" paid to the IOUs in the Social Security Trust fund. This is not really debt issued by the government in the form of marketable Treasury securities, but simply accounting entries in the non-marketable part of the government debt balance sheet. I don't think that we should be counting this as real debt. Here is the link that differentiates between the two kinds of debt. Check out the increase in the "Government Account Series" in the non-marketable category: publicdebt.treas.gov What really counts is the marketable column. It shows a decrease of $75 Billion. That's the amount by which outstanding Treasury securities decreased last year. This year this amount will more than double.