Deficit: Why Should I Care?
At the turn of this century, the American national debt stood at just under $6 trillion and the deficit at a "mere" $86 billion. Today, the national debt has topped $15 trillion, and the yearly deficit for 2012 is projected at a whopping $1.2 trillion. This new, second edition of Deficits: Why Should I Care? updates all the statistics, charts, and forecasts, while adding a new chapter on how global economies now, for better or worse, affect the U.S. debt and the annual budget deficit. It also includes a new appendix detailing how the U.S. political parties view the debt issue.
This book also answers key questions: Can the government go bankrupt? Why have there seemingly been no repurcussions of the large debt to date and is that likely to change? When the interest on the debt becomes higher than the revenue of the government, what happens? And many more practical insights into the government debt controversy. Business professionals, parents, retirees, and students are all concerned about the debt. This quick read will provide an understanding of the ramifications of the rising debt and what the consequences may be.What you’ll learn Why the debt now could be a problem when people have been crying wolf about it for for the last 40 years How the world economy affects the U.S. debt and deficit What the government can do to reduce the debt and the implications—especially for such programs as Medicare and Social Security The long-term implications of the debt Methods and tactics for balancing the budget When accruing a debt makes sense and when it does not Action steps for monitoring the debt Who this book is for
Deficit: Why Should I Care? is written for the busy business professional, concerned parent, retired worker, or student. While academic and theoretical texts on the subject lack brevity, this book will help you understand the seriousness of the debt issue in a clear, concise format. This work has been condensed into eight need-to-know chapters, each containing the key points necessary for understanding this complex economic issue affecting the economic future of all Americans. Whether you are a businessperson concerned about the economy, a parent anxious about the debt burden of your children and grandchildren, a retiree fretful about programs like Social Security, or a student who needs additional information to supplement a textbook, this is the book for you. The appendix provides a website selection covering government agencies, economic sources, and academic sites to assist you in finding the most up-to-date information on the debt drama.
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