No one. Interest is the price of credit and, as in any competitive market, prices are determined by supply and demand. The Federal Reserve — the nation's central bank — auctions the securities on behalf of the U.S. Treasury. The securities go to the highest bidders. … Back to Article
A – B (APPROPRIATION – BUDGET SURPLUS)
C – E (CONTINUING RESOLUTION – ENTITLEMENTS)
F – N (FEDERAL DEBT – NATIONAL DEBT)
O – P (OBLIGATION – PRESIDENT'S BUDGET)
S – U (SCOREKEEPING – UNFUNDED MANDATE)
Frequently Asked Questions
Who determines how much interest is paid on the national debt?
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