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Ref: terminology "Public debt outstanding" which should be Gross Federal Debt. The public debt is the debt held by the public. Debt has two components: debt held by the public & debt held by government accounts. CBO, OMB and the Commission on Fiscal Responsibility uses the term Gross Federal Debt. The public and officials have a difficult time in sorting through the debt and the deficit. Using "Public debt outstanding" does not help.



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Idea No. 64