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1 page/β‰ˆ275 words
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APA
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Mathematics & Economics
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English (U.S.)
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Economic Thoughts about the Public Debt in the United States

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View the video 10 Trillion and Counting (56:47) to get an idea of how the public debt increased from the Bush Administration (2001-2009) to the Obama Administration (2009-2017).
Link (Video): https://www(dot)pbs(dot)org/wgbh/frontline/film/tentrillion/
Link (Debt Clock): https://www(dot)usdebtclock(dot)org/
Write a new thread in which you respond to the following prompts:
What are YOUR economic thoughts about the public debt from the video (try to minimize any political leanings)?
Check the current public debt level using the US Debt Clock.
Indicate in your submission the number you saw.
What do YOU think about the current public debt?
Given that the federal government can attempt to bring the debt down either by
- reducing government spending OR
- increasing taxes OR
- doing both OR
- doing nothing.
What do you think the current government (i.e. U.S. Congress and the White House) is doing in the current COVID-19 pandemic?
Explain how the current action is going to affect the U.S. public debt?

Other (Not Listed) Sample Content Preview:

Public Debt in the United States
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Public Debt in the United States
The country was in an economic crisis. Many jobs had been lost, businesses had been shuttered, and the country was sinking in debts. At this time, the American economy was struggling mainly because the borrowing rate was so high. Taxes were not sufficient to cater to the expenditure. The rate of unemployment was also very high as many Americans remained unemployed throughout the country. Indeed, it was a worrying time for all Americans since the country was in a deficit, and there were no savings to save the situation.
The U.S. debt clock shows that the county had $10 trillion (Yellin, Tenenbaum & Obenhaus, 2009).
The reason for the increasing country's debt was due to excessive borrowing and low taxation. Americans love low taxes, an aspect that led to the accumulation of more deficits over the years. Before Obama took over, the country was in a severe economic crisis, and a lot was needed from his administration to correct the menace.
The current debt needs...
Updated on
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