Federal Debt
By: Jennifer Cartagena
What is federal debt?
Debt increases when government sells debt to the public to finnance budget deficits. It is called DEBT HELD BY THE PUBLIC. Also debt increases when the government issues debt to certain government accounts such as: social security, Medicare, and transportation trust funds.
Congress and debt
Congress has always restricted federal debt, but it's not that enforced. Since 2001, congress has modified debt 10 times. 2002, 2003, 2006,2007. Now the confess had to limit increasing debt limit. The Housing and Economic recovery act of 2008 limited fed
What causes federal debt?
-Healthcare programs (Medicare/Medicaid)
-Social Security Programs
-Defense Budget Expenses
-Transportation, veterans, etc
Is Federalism Helping?
I do believe that federalism helps out national debt. If you think about it the government (national,state,and local) are all trying to do something to take all this away. The three branches of government (legislative.0, executive, and judicial) work together and talk about things that they need to do in order to get rid of the national debt. It just takes time.
By: Kate April 4,2015
My husband and I both went to school at a public University. We thought that going to a public University would be cheaper in the long run but, we were wrong. I have a bachelors degree and half of a graduate degree. My husband has his bachelors and graduate degree. All in all, our student loan totals 260,000 dollars (private and federal). Our annual gross income is about 48,000 dollars. We have a baby that we can barely afford to buy nessisary things for. While our income is average for the place in which we live, our income is just enough to cover our loan payments of nearly 3,000 dollars a month. We are in desperate need of help like many other young adults struggling to pay their student loans. We only live once, and a large number of people in our generation (including my family) will never get to do the things any human should be able to do like eat,raise a family, have a decent place to live or enjoy life.