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National Debt Presentation
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National Debt
by Lazar Lazarevic
What is the Federal Deficit or what is the Federal Debt?
In simple terms, a budget deficit is the difference between what the federal government spends (called outlays) and what it takes in (called revenue or receipts). The national debt, also known as the public debt, is the result of the federal government borrowing money to cover years and years of budget deficits.
What is the Federal Deficit or what is the Federal Debt?
Why is the US in debt?
Because of years in deficit, US has to borrow money building up debt more and more every year. Since 2007, US debt was rising 1 trillion $ every year.
What are the consequences of the US being in such extreme debt?
Academic research shows that advanced economies like the United States are at risk of significant and prolonged reductions in economic growth when public debt reaches levels of 90 percent of GDP. High public debt threatens to drive interest rates up, to crowd out private investment, and to raise price inflation.
How can we solve this debt crisis?
The solution to the debt crisis is economically easy but politically difficult. First, agree to cut spending and raise taxes to an equal amount. Each will reduce the deficit equally although they have different impacts on economic growth and jobs creation. Second, delay any changes for at least a year after a recession. This allows the economy to recover enough to grow the 3 to 4 percent needed to create jobs.
helpfull content
https://www.youtube.com/watch?v=OYF_guqpOzE
https://www.thebalance.com/us-debt-crisis-summary-timeline-and-solutions-3306288
https://en.wikipedia.org/wiki/National_debt_of_the_United_States
www.usdebtclock.org/