Buyback in the United States

Buyback in the Federal Budget Process

Meaning of Buyback in the congressional and executive budget processes (GAO source): BuybackIn the context of federal debt, the Department of the Treasury’s purchases of marketable Treasury securities from the public prior to their maturity through competitive redemption processes (as opposed to redemptions prior to maturity under call provisions) are often referred to as “debt buybacks.” The budget records buyback premiums and discounts as means of financing a surplus or deficit, rather than as outlays or offsetting collections or receipts. The buyback premium or discount is the difference between the reacquisition price of a security and its book value. (See also Means of Financing.)

Resources

See Also

• Federal Appropriations
• Entries about the United States Budget Process in the Encyclopedia (including Buyback)
• Public Debt

Further Reading

• Legislatures and the budget process: the myth of fiscal control

  (J Wehner, 2010)

• Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
• Fiscal institutions and fiscal performance

  (JM Poterba, J von Hagen, 2008)