The Pros And Cons Of National Debt

757 Words4 Pages
The national debt is growing by the second. The United States is 20 trillion dollars in debt. The largest portion of the debt is money that the government owes itself, borrowed from Medicare and social security. Debt is different from the deficit, deficit when the government plans to spend more than they have yearly counted. Debt is the accumulation of deficit. The national debt has recently been growing, so how does it really affect individuals? Interest rates go up on credit cards and loans, this is great for the federal government but not for you. National debt refers to government liabilities and there are various concepts of debt. There is public debt, where treasury bonds are bought this means that portions of the debt are held by government accounts and the other portion is held by the public. Debt by the public is the debt being held by the public and it exceeds government debt. Gross federal debt is the made up of public debt securities. The debt is held by the public, the government’s debt is the highest. High national debt means that there is little economic growth. The national debt is an issue my generation will face and debt will continue to get larger, this is an important issue and could get smaller with expanding GDP, causing an increase in economic growth and prevent the creation of offshore accounts made by corporations.

One way to cut the national debt is to expand GDP, the gross domestic product is the best way to measure the country’s economy. It

More about The Pros And Cons Of National Debt

Open Document