U.S National Debt
Then the government comes along and issues new debt hence increasing its borrowing.
http://faculty.ses.wsu.edu/rayb/420/Notes_govt_debt.pdf
A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times. That amount of money would still not be enough to pay off the U.S. national debt.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
Congress has spent more money than it collected in revenue, (ran a deficit). Treasury has to borrow money to meet Congress's appropriations.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
In 2009, Federal spending accounted for 24.7 percent of GDP
http://www.cbsnews.com/news/18-scary-us-debt-facts/
In 2010, the U.S. government issued almost as much new debt as the rest of the governments of the world combined.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
Obama's most recently proposed budget anticipates $5.08 trillion in deficits over the next five years
http://www.cbsnews.com/news/18-scary-us-debt-facts/
Our nation began its existence in debt after borrowing money to finance the Revolutionary War.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
Since 1938, the national debt has increased at an average annual rate of 8.5 percent.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
The U.S. government has such a voracious appetite for debt that the rest of the world simply doesn't have enough money to lend us.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
The U.S. government has to borrow 41 cents of every dollar that it currently spends.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
The U.S. national debt has more than doubled since the year 2000. Under President Bush, at the end of calendar year 2000, the debt stood at $5.629 trillion. Eight years later, the federal debt stood at $9.986 trillion.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
The U.S. national debt on January 1st, 1791 was just $75 million dollars. Today, the U.S. national debt rises by that amount about once an hour
http://www.cbsnews.com/news/18-scary-us-debt-facts/
The U.S. national debt rises at an average of approximately $3.8 billion per day.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
The US government now borrows approximately $5 billion every business day.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
The debt ceiling is the maximum amount of debt that Congress allows for the government. The current debt ceiling is $14.29 trillion
http://www.cbsnews.com/news/18-scary-us-debt-facts/
Total US government debt as a percentage of GDP was 94 percent in 2010. Greece, the poorest step-sister of the European Union, is now expected to see debt peak at 172 percent of its annual economic output, substantially higher than the 150 percent of GDP estimated when the joint IMF-European Union rescue was approved last year.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
Treasury Secretary Geithner says the government will breach the debt ceiling on August 2, 2011, unless lawmakers vote to increase it. The U.S. government's debt ceiling has been raised six times since the beginning of 2006.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
When Ronald Reagan took office, the U.S. national debt was just under $1 trillion. When he left office it was $2.6 trillion. During the eight Regan years, the US moved from being the world's largest international creditor to the largest debtor nation.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
When World War II ended, the debt equaled 122 percent of GDP (GDP is a measure of the entire economy).
http://www.cbsnews.com/news/18-scary-us-debt-facts/
the Federal Reserve is buying most U.S. debt, and the only reason it can do that is because it can create money to lend.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
the total liabilities of the United States government, including future Social Security and Medicare payments that the U.S. government is already committed to pay out, now exceed $65 TRILLION.
http://www.cbsnews.com/news/18-scary-us-debt-facts/
By not making responsible debt choices, we are placing higher debt burdens on our children and threatening their standard of living and retirement.
http://www.fixthedebt.org/everything-about-the-debt
Deficits occur each year that federal spending exceeds revenues collected. Alternatively, when revenues exceed spending, the federal budget runs a surplus. When the federal government runs deficits for multiple years—as we have done with only a few exceptions in the last 40 years—the deficits plus the interest incurred on that borrowing accumulate into the national debt.
http://www.fixthedebt.org/everything-about-the-debt
In 2015, the U.S. spent $218 billion, or 6 percent of the federal budget, paying for interest on the debt.
http://www.fixthedebt.org/everything-about-the-debt
More national debt means the cost of living is raised
http://www.fixthedebt.org/everything-about-the-debt
Our debt is about 74 percent of the country's economy
http://www.fixthedebt.org/everything-about-the-debt
Population is driving our national debt
http://www.fixthedebt.org/everything-about-the-debt
Rapid health care is making our debt increase higher
http://www.fixthedebt.org/everything-about-the-debt
The U.S is 18 trillion dollars in debt
http://www.fixthedebt.org/everything-about-the-debt
Unchecked debt growth could eventually lead to a fiscal crisis, as recently occurred across Europe. At that point, investors in U.S. debt will demand higher returns, driving up interest payments, and leading to a debt situation spiraling out of control.
http://www.fixthedebt.org/everything-about-the-debt
Wage growth is slower because we owe more
http://www.fixthedebt.org/everything-about-the-debt
We owe 47% of our national debt to foreign countries
http://www.fixthedebt.org/everything-about-the-debt
When we wait to pay off debt, the price will raise higher and higher
http://www.fixthedebt.org/everything-about-the-debt
Govt spends what they dont have
http://www.investopedia.com/articles/04/011404.asp
Because the Government keeps spending and spending and spending, the National debt keeps rising
http://www.pewresearch.org/fact-tank/2013/10/09/5-facts-about-the-national-debt-what-you-should-know/
China's Treasury holdings amounted to about $1.28 trillion, or 7.6% of the total debt
http://www.pewresearch.org/fact-tank/2013/10/09/5-facts-about-the-national-debt-what-you-should-know/
at the end of September there was just $25 million in unused debt capacity remaining.
http://www.pewresearch.org/fact-tank/2013/10/09/5-facts-about-the-national-debt-what-you-should-know/
Debt held by the public, such as Treasury securities held by investors outside the federal government, including those held by individuals, corporations, the Federal Reserve System and foreign, state and local governments.
https://en.wikipedia.org/wiki/National_debt_of_the_United_States
Historically, the US public debt as a share of GDP has increased during wars and recessions, and subsequently declined
https://en.wikipedia.org/wiki/National_debt_of_the_United_States