ENG 110 Wk 6 Wednesday

ENG 110 Wk 6 Wednesday - ENG 110 Wk 6 Wednesday Current...

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ENG 110 Wk 6 Wednesday Current Events - Federal government announced that it is going to borrow less o Deficit – annual budget o National debt – 70% of our GDP o High sovereign debt levels start to affect your budget Interest Affects federal budget Less money left over to spend on other things Ability to borrow more Currency impact: lots of debt will devalue your currency due to concern of the ability to pay the debts back All of these lead to inflation o Stagflation Slow growth Recession Inflation very high Last time was in the 70s This devastated the economy- very hard to get out of Possible to see this in the next couple of years We owe a lot of money and eventually will not be able to keep borrowing at
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This note was uploaded on 03/28/2011 for the course ENGR 110 taught by Professor . during the Winter '10 term at UCLA.

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ENG 110 Wk 6 Wednesday - ENG 110 Wk 6 Wednesday Current...

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