NATIONAL DEBT-2337 - Our National Debt Issue What are the...

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Our National Debt Issue What are the issues?
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Estimated Federal National Debt As of November 21, 2011
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A “Time” Perspective… Million Seconds = 11 Days (approx) Billion Seconds = 32 Years (approx) Trillion Seconds = 32,000 Years (approx)
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Terms Federal Budget Est Expenditures vs. Est Tax Revenues 12 month period October 1 thru September 30 (Fiscal Period) Congress / President ---- Cannot decide!!! Result --- NO budget, only spending expenditures
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National Debt (Public Debt) Accumulation of the many “Budget Deficits” Budget Deficit Exp exceed Tax Rev for 12 month period
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Why are we in debt? Wars War for independence WWII, etc. . National Debt = 125% of GDP Macro Goals ---- Recessions Social / Entitlement Programs DIFFICULT to cut Non-discretionary
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Size!!! Interest on the debt External Debt Future Generation Issue “Deficit Trials of 2017”
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This note was uploaded on 12/12/2011 for the course ECO 2118 taught by Professor Ligget during the Fall '11 term at University of Texas at Austin.

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NATIONAL DEBT-2337 - Our National Debt Issue What are the...

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