Number: RL34712 Title: Ebbs and Flows of Federal Debt Authors: Mindy R. Levit, Government and Finance Division Abstract: This report will define the measures of debt, discuss the mechanisms of how debt levels change, and use historical examples to illustrate the factors causing debt movements over the last seven decades. In addition, some policies which may affect the future budgetary outlook and the debt will be discussed. Pages: 21 Date: October 20, 2008