Presentation slideshare
- 1. “What Cause United States to Have Such a Tremendous Debt?”Stracy NixonENG 1105TECHNICAL COMMUNICATIONS
- 2. What is a Debt?Debt is an obligation to pay someone back, either in money or other goods.The national debt is a point of topic in politics today because, of the damage high debt has on the dollar and the government.The Untied States has had nation debt since the Revolution War.“By the end of the President Reagan resign the federal debt was $2.6 trillion dollars”(Bonner and Wiggin).Since 2000, it has increase and as of 2010, the nation debt has soared to$14 trillion dollars.Some causes for the large debt are war, social and bail out programs.
- 3. The effects recent Wars have on the National Debt?We know that wars is not cheap.“Congress has approved a total of $1.21 trillion dollars to fund both Iraq and Afghanistan wars including military operation, and base security.It is estimates that Iraq will receive about $751 billion dollars , $366 billion dollars for Afghanistan, and $29 billion dollars for enhanced security.Military personal costs was $300 million dollars include not only number of personnel receiving special war related pay and benefits(e.g.) hostile fire or imminent danger pay, separation pay, survivors benefits), but also addition cot activating reservists”(CRS report for Congress).
- 4. Homeland securitySeptember 11, 2006 terrorist attack was a awake up call for United States to increase national security.“In this view point taken from remarks on his 2006 budget, President Bush stresses the need to maintain spending on the military and homeland security” (Greenhaven Press).
- 5. How does Social Programs effect the Nation DebtThe United States many social programs such as Social Security, Medicaid and Medicare to their citizen and they are very important programs.On the other hand, the spending for these programs is growing faster than inflation, faster than the economy, and faster than out ability to pay for them.“More than $2.47 trillion is pent each year for these programs. More that $7 billion use for Social Security and just under $13.2 billion has gone to pay for Medicaid services. Medicare is expected to cost the federal government about $480 billion” (Przybyla).
- 6. How much money was spend on Bail out Programs.Over $700 billion dollars has been used to bail out banks and car companies.The government has intervened to rescues major financial firms and prevents an imminent collapse of the America and global banking system by bail out of the mortgage giants Fannie Mae and Freddie Mac.“The U.S. House of Representatives has passed $25 billion package for the auto and auto parts industries, both of which would be able to access low-interest loans to modernize their industries and get through the recent credit crunch”(Hopwood).
- 7. SourcesPrimary SourcesBonner, Bill and Wiggin, Addison. EMPIRE OF DEBT The Rise of an Epic Financial Crisis.CRS Report for Congress (2010, September 2). The cost of Iraq, Afghanistan, and other Global War on Terror Operations Since 9/11. Retrieved February 15, 2011, from http://www.fs.org/sgp/crs/ntec/RL3310.pdfDeveloped by Greenhaven Press (2005). Opposing View Points Government spending.Przbyla, Heidi. (2011, January 31). Social Security Get A Reprieve-for Now. Bloomberg business Week/421428(2)/ISSN:00077135. Secondary Sources Hopwood, Jon C. (2008, September 26). House Passes $25 Billion Bailout of Automobile Industry. Retrieve March 2, 2011, from http://www.associatedcontent.com/article/1063177house_passes_25_billion_of.html