Monetary Policy Report submitted to the Congress on February 27, 2008, pursuant to section 2B of the Federal Reserve Act
Figure of federal government debt held by the public, 1960-2007. Data are plotted as a curve and are expressed as a percent of nominal GDP. The curve starts in 1960 at about 45 percent and generally declines until 1974, when it reaches a value of just less than 25 percent. The curve then generally rises and reaches a peak of almost 50 percent in 1993; it declines until 2001, when it reaches a value of just less than 35 percent. The curve then generally rises, reaching a little more than 35 percent in 2007.
Note: The data for debt are as of year-end; the observation for 2007 is an estimate. The corresponding values for GDP are for Q4 at an annual rate. Excludes securities held as investments of federal government accounts.
Source: Federal Reserve Board, flow of funds data.