How serious is the public debt situation in the USA?

ECON2301 2022SP Principles of Macroeconomics

Read the Word file and answer those questions:

1.How serious is the public debt situation in the USA?

2.If we paid off the debt would that solve most of our other economic problems, such as unemployment?

3.How should we approach balancing our budget…spending cuts only; tax increases only; a combination of the two?

4.Should wealthier citizens pay a larger percentage? How do you see our current tax policy relating to the deficit/debt situation?

5.Why has concern about the debt suddenly become such a major political issue?

6.Do you agree with the Keynesian Model…does government have the responsibility to try to maintain a stable economy?

7.If you were an economic consultant, what would you recommend to deal with the unemployment problem? Do we still have an unemployment problem?

8.The Tea Party suggests that eliminating most of government and balancing the budget would solve most/all of our economics problems. Do you agree or disagree. Why?

9.How does economic growth impact the size of our debt. How do the Democrats compare with the Republicans relative to growth and relative prosperity.

10.What are the similarities between personal and public debt—the differences?

11.How has coronavirus pandemic impacted our view of public debt?

12.How does the USA compare to other developed countries when you look at debt as a percentage of GDP. Does that percentage predict economic growth and development? See Economist Global Debt Clock, below.

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How serious is the public debt situation in the USA

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