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Bureau of the Public Debt
Sheila Greco Associates, May 2011, Pages: 1
You haven`t heard of the Bureau of the Public Debt before? We`re a small agency within the Department of the Treasury. Our customers are your neighbors, co-workers, and most likely you, too. You`re our customer if you`ve ever bought any type of Treasury security for yourself or, as millions have done in the case of savings bonds, as a gift for someone else. Our job is to borrow the money needed to operate the federal government and to account for the resulting debt. In a nutshell, we borrow by selling Treasury bills, notes, and bonds, as well as U.S. Savings Bonds; we pay interest to investors; and, when the time comes to pay back the loans, we redeem investors` securities. Every time we borrow or pay back money, it affects the outstanding debt of the United States. We also provide reimbursable administrative, financial management and information technology services to a variety of Federal government entities through our Administrative Resource Center (ARC).
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