Figure B

During recessions, federal borrowing usually comes from us: Net lending (+) or borrowing (-) by household sector and federal government (billions), 2004–2007 and 2008–2011

2004–2007 2008–2011 Change
Households -38.2 628.7 666.9
Federal government -376.9 -1,251.1 -874.3
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Source: Bureau of Economic Analysis (BEA) National Income and Products Accounts, Table 5.1.

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