Lesson17-14TrillionDebt

Lesson17-14TrillionDebt -...

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Lesson 17 Lesson 17 April 4, 2011 April 4, 2011 Approaching $ 14 Trillion in Debt Approaching $ 14 Trillion in Debt
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This Week Today: The US federal debt is approaching $14 trillion dollars (Lesson 17) Read Scurlock pp. 1-15, 59-74 Wednesday: : The federal bureaucracy has reached about two million people (Lesson 18) Read Ritzer, pp. 1-34
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How did we get $14 trillion in debt? Slower economic growth Financial meltdown Public spending
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$819 Billion
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Why are we going even deeper into debt? It works Everyone else does it John Maynard Keynes (1883-1946)
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Unformatted text preview: http://video.pbs.org/video/1099844054/ Debt is not just a problem for the government… On average, college students graduate with over $20,000 in debt. There were 984 million bank-issued Visa and MasterCard credit card and debit card accounts in the U.S in 2006. U.S. Visa cardholders alone conduct more than $1 trillion in annual volume. Consumers carry more than 1 billion Visa cards worldwide (450 million in the United States) Sources: Visa USA, MasterCard International)...
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This note was uploaded on 02/22/2012 for the course SOC 1010 taught by Professor Angelikagulbis during the Spring '08 term at Toledo.

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Lesson17-14TrillionDebt -...

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