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The Office of Public Debt manages the borrowing of funds for the US government, tracks government debt, and sells and manages Treasury securities. It conducts auctions and offers savings bonds through Treasury Direct. Treasury securities are considered safe investments backed by the US government.
The Office of Public Debt is an agency of the United States Treasury that is in charge of borrowing funds to administer the United States government. The Bureau also tracks US government debt and manages the sale and management of Treasury securities such as T-Bills and savings bonds. Many Americans are clients of the Office of Public Debt; Anyone who has purchased a Treasury security has taken advantage of the services of the Office of Public Debt.
Running a government is extremely expensive. The Bureau of Public Debt borrows about two trillion US dollars (USD) annually through the sale of Treasury securities. Anyone who buys a Treasury security is lending money to the United States government, whether the security is a $25 USD savings bond or a $1,000 USD T-Bill. In exchange for the temporary loan to the government, the investor receives interest on the security and, ultimately, the security can also be redeemed for its face value.
Initially, the Public Debt Office was known as the Treasury Registry. In 1919, it became the Public Debt Service, and in 1940, the agency acquired its current name. The agency conducts about 140 Treasury auctions each year and also continuously makes savings bonds available throughout the country. Investors can also buy savings bonds and other securities through the Treasury Direct service, a completely paperless investment site maintained by the Treasury.
The Office of Public Debt is headquartered in Washington, DC, although the agency also has offices in Parkersburg, West Virginia. In addition to selling and tracking Treasury securities, clerks also track total government debt in the United States; The most recent public debt figures are available on its website. The organization also handles administrative issues related to the sale of Treasury securities, such as responding to reports of lost, stolen, or counterfeit securities.
Treasury securities from the Public Debt Office are often treated as a safe and stable investment by US investors. While Treasury yields tend to be relatively conservative, these securities are backed by the US government, making them good choices for beginning investors or people who can’t afford to lose money on investments. Many Americans are also encouraged to use savings bonds as a way to save money while supporting the operations of the federal government.
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