The Bureau of Public Debt is an agency of the United States Treasury which is responsible for borrowing funds to run the United States government. The Bureau also keeps track of American public debt, and administers the sale and management of Treasury securities such as T-Bills and savings bonds. Many Americans are customers of the Bureau of Public Debt; anyone who has purchased a Treasury security has taken advantage of the services of the Bureau of Public Debt.
Running a government is extremely expensive. The Bureau of Public Debt borrows around two trillion United States Dollars (USD) annually through the sale of Treasury securities. Anyone who purchases a Treasury security is loaning 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 the security can also ultimately be redeemed for its face value.
Initially, the Bureau of Public Debt was known as the Register of the Treasury. In 1919, it became the Public Debt Service, and in 1940, the agency acquired its current name. The agency holds around 140 auctions of Treasury securities every year, and also makes savings bonds available on a continuous basis all over the country. Investors can also purchase savings bonds and other securities through the Treasury Direct service, an entirely paperless investment site maintained by the Treasury.
The headquarters of the Bureau of Public Debt are in Washington, DC, although the agency also has offices in Parkersburg, West Virginia. In addition to selling and tracking Treasury securities, employees also keep track of the total public debt in the United States; the most recent public debt figures are made available on their website. The organization also manages administrative issues which pertain to the sale of Treasury securities, such as responding to reports of lost, stolen, or forged securities.
Treasury securities from the Bureau of Public Debt are often treated as a safe, stable investment by American investors. While the yields on Treasury securities tend to be relatively conservative, these securities are backed by the American government, making them sound choices for beginning investors or people who cannot afford to lose money on investments. Many Americans are also encouraged to use savings bonds as a way of saving money while also supporting the operations of the federal government.