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National Debt

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 .

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National Debt

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  1. National Debt Charlie Steiner and Logan Dwyer

  2. 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.

  3. 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.

  4. 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.

  5. 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

  6. Data

  7. 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.

  8. References • Chantrill, C. (2011, November 04). Us government spending. Retrieved from http://www.usgovernmentspending.com/ federal_debt_chart.html • Harrington, J. (2010, November 27). 13.7 trillion ways to cut our national debt. Retrieved from http://www.tampabay.com/news /politics/137-trillion-ways-to-cut-our-national-debt-well- almost/1136807 • Wikipedia. (2011, November 3). United states public debt. Retrieved from http://en.wikipedia.org/wiki/Us_debt

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