Jul 22, 2017 Research papers

What is the US debt? Why does it impact your life

This paper concentrates on the primary theme of What is the US debt? Why does it impact your life in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

US Debt: What is the US debt?

INSTRUCTIONS:

Answer in Detail and use graphs and statistics What is the US debt? Why does it impact your life. How much has it grown in the last 10 years? Where will it be in 10 years? Where is the money going? What are we spending it on? Where are we getting it from? How much interest to we have to pay on the debt? Is that money (on interest) productive? How can we solve this problem for the US?(as in United States and us[you and me])

CONTENT:
US DebtName of StudentInstitutional Affiliation aThe United States debt refers to the total amount of money owed by the federal government (TreasuryDirect, 2014). By the conclusion of the 2013 financial year, the federal debt was $16.74 trillion, according to the United States Treasury. This debt arises from loans made to the people, businesses, and other foreign governments in terms of treasury bills and bonds. The United States federal government owes approximately one-third of the total debt. The United States debt grew by approximately $10 trillion dollars for the past ten years. The projections for the next 10 years show that it will have grown to 27.19 trillion dollars with an increment of about 11 trillion dollars. The debt affects the lives of American citizens as they are involved in paying for the loan. This translates to an increased cost of living due to inflation and high taxation. There is also reduced employment due to the decline of the economy. The overall effect is that the effect of the US debt will contribute to lowering of living standards which is associated with many negative effects (Warner, 2011).Images showing US debt for the past 10 years and a projection for the next 10 years (adopted from treasurydirect, 2014).End of HYPERLINK "http://useconomy.about.com/od/fiscalpolicydefinitions/g/Fiscal_Year.htm"Fiscal YearDebt (9/30, in billions)GDP (Q3, in billions)Debt/GDP Ratio2013$16,738$16,872 in Q399%2012$16,066$16,06699%2011$14,790$15,58795%2010$13,562$15,05890%2009$11,910$14,...

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