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Paying Off the National Debt: Some Intergenerational Consequences (CRS Report for Congress)

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Release Date Oct. 17, 2000
Report Number RS20654
Report Type Report
Authors Marc Labonte and Gail Makinen, Government and Finance Division
Source Agency Congressional Research Service
Summary:

A major change in the fiscal regime of the United States occurred in the 1990s. The large and persistent federal budget deficits that characterized the 1980s and early 1990s gave way to budget surpluses. The budget deficits were responsible for the large growth in the national debt. The current and projected budget surpluses are large enough to make it possible to pay off the national debt. Current debate centers on the use of the surplus.