Bureau of the Public Debt (BPD) (Federal Agency Profiles)
PARENT ORGANIZATION: Department of the Treasury
ESTABLISHED: June 30, 1940
ADDRESS: 999 E St. NW Washington, DC 20239
PHONE: (202) 219-3300
COMMISSIONER: Richard L. Gregg
WHAT IS ITS MISSION?
According to the agency, the mission of the Bureau of the Public Debt (BPD) 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 our 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. It's important that we keep careful track of the amount of this debt." Also, the BPD is responsible for creating strategies that will ensure the payment of debt and seeks new opportunities for raising the money necessary to run federal government programs.
HOW IS IT STRUCTURED?
The Bureau of the Public Debt is a bureau...
(The entire section is 2622 words.)
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