National Debt Charlie Steiner and Logan Dwyer. Introduction The national debt is the money that the government borrows or spends what we don’t have to.

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Presentation transcript:

National Debt Charlie Steiner and Logan Dwyer

Introduction The national debt is the money that the government borrows or spends what we don’t have to put us into a deficit. There is public debt out of the federal government where our money is spent in the state or local governments. Then there is intergovernmental debt where the money we do not have is used by the federal government. Basically we are in debt way over our heads and in the near future we do not have a way out of it.

Explanation of Issue We have had debt ever since the founding of our country. Each year it has rose more and more when a new president comes into his term. Only during Ronald Regan's term in office did the debt grow smaller using a system called Reganomics. During war times our debt grows higher and higher at a faster pace. The current debt with Obama in office was due in a large part to the bailout of Fannie Mae and Freddie Mac.

Continued When George W. Bush was in office from 2001 to 2008 the national debt rose from 5.7 trillion to 10.7 trillion. It is said that a lot of the debt is due to the recession. Still we get more and more debt compounded every year. We are now into the 14 trillions with our public and intergovernmental debt.

Initial Hypothesis/Proposal Pull out of foreign wars and pull back on foreign aid Keep jobs in America … for Americans Revamp income taxes Stop importing Overhaul health care/Medicare

Data

Analysis The country has gotten to far over it’s head and has reached an almost insurmountable amount of debt to overcome. There is nobody in congress or government that will have the power to fix or even start to fix this problem. If everyone started to manage their money in a way that could help this debt, then maybe the country could start to deplete this deficit.

References Chantrill, C. (2011, November 04). Us government spending. Retrieved from federal_debt_chart.htmlhttp:// feder Harrington, J. (2010, November 27) trillion ways to cut our national debt. Retrieved from /politics/137-trillion-ways-to-cut-our-national-debt-well- almost/ http:// /politics/137- Wikipedia. (2011, November 3). United states public debt. Retrieved from