Deficit: why should I care?

by Bussing-Burks, Marie

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Title Statements

Full title :Deficit : why should I care? / Marie Bussing-Burks.

Summary

At the turn of this century, the American national debt stood at just under $6 trillion and the deficit at a "mere" $86 billion. Today, the national debt has topped $14 trillion, and the yearly deficit for 2011 is projected at a whopping $1.4 trillion. According to the U.S. Treasury Department's Annual Report on the Public Debt, the debt is estimated to hit $19.6 trillion by 2015. The federal government has borrowed roughly 40 percent of its total budget for the last several years, a disturbing trend that could leave the U.S. in an economic crisis. Astronomical interest payments, a debt burden to your children and grandchildren, and an increased reliance on foreign creditors are just a few of the problems. Although the U.S. has experienced soaring unemployment, stagnant production, and a crippled housing market, foremost on economists' minds are rising deficits and ballooning debt. Others feel fears of the national debt are overblown or pale in comparison to today's economic problems.

Edition Statements

Publication Date:2011
Edition:[First edition]

Publication Statements

Publisher(s):Apress
Place of Publication:New York, New York
Language:eng
Publication Date:2011

The Physical Object

Description:1 online resource (144 pages) : : illustrations

Edition Identifiers

oclc:on1331799519
LC Classification:HJ8119
Dewey Decimal:336.340973

Subjects

Budget deficits Budget deficits -- United States Debts, Public Debts, Public -- United States Deficit financing Deficit financing -- United States Fiscal policy Fiscal policy -- United States Government spending policy Government spending policy -- United St… United States