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Review the U.S. Department of Treasury website by clicking the link below.https://www.treasury.gov/resource-center/faqs/Markets/Pages/national-debt.aspxReferencing the U.S. government's obligation to
Review the U.S. Department of Treasury website by clicking the link below.https://www.treasury.gov/resource-center/faqs/Markets/Pages/national-debt.aspxReferencing the U.S. government's obligation to be financially transparent with its citizens, should public leaders update citizens about the effects of the national (federal) debt when funding programs are approved? Is it important to lower the national debt, or is the national debt just something we pass on to the next generation? Explain your answer.
PLEASE REPLY TO MY CLASSMATE RESPONSE TO THE ABOVE QUESTIONS AND EXPLAIN WHY YOU AGREE? (A MINIMUM OF 150 WORDS or MORE)
CLASSMATE'S POST
The budget and the corresponding deficit are always front and center during political debates and condemnation of the other political party. When it comes to politics and the appearance of being honest, transparency is very important. What is usually missing is what the difference between the two means in relations to the public and normal tax payer. The feds have several measures to explain what the liabilities of the government are. The public leaders should not have to update the public on the effects of a programs budget of the entire budget except when the annual budget is proposed, and a deficit is expected. A balanced budget that includes paying down debt should also be explained to the public.
Every time the debt increases, and the deficits starts to stack up it can speak volumes about the economy and in turn the political party making policy. The budget and deficit can be manipulated based on interpreting the numbers and what part of the story they tell. I believe it is important to lower the debt when possible and avoid increasing the deficit to the debt ceiling. The real question would be to ask is what would happen to life is the U.S. was without debt? Paying on its debt is on a grand scale that we all do, however if we did not have debt and we or the U.S. took in more money in taxes than expenses, what happens to the surplus? No more debt, no more need for treasury bonds, then what happens?
