The United States Debt

Something interesting that I noticed on the websites given by Mr. Miller during math was the debts that the United States has. My 7th grade teacher, Mr.White, once told the class that the United States owe several trillion dollars to China. That surprise me because the United States is one of the world’s most powerful countries and who would expected the United States to owe trillions to another country. Today, the Us Debt Clock showed the exact amount that the United States owes and the amount was shocking. This information can be found to be interesting, important, and something that the average person should know about.

The United States currently owes about 19 trillion and a total debt of 66 trillion.The National Public Debt Outstanding

It is very important to know because the economy of the United States could be affected by this debts. The affects of the Unite States Debt in the economy is explain in an article in About News title “The Unites States Debt and How It Got So Big” by Kimberly Amadeo, A US Economy Expert. In the article, it is mentioned that a growing Federal debt is like driving with the emergency brake on,, further slowing the United States economy. At any point, the debt holders could demand larger interest payments to to compensate for what they perceive as an increasing risk they won’t get repaid. At the moment when this happens, The United States will have to pay really large amounts of money just to pay for the interest alone. At this point, the Unites States could be facing a debt crisis. Over the next 20 years, the Social Security Trust Fund won’t have enough to cover the retirement benefits promised to the Baby Boomers. This would lead to the increase in taxes because the high amount U.S. best rules out any further loans from other countries. This is a way that the debts of the United States could affect the United States economy and therefore affecting us. A direct way that the United States debts can affect people would be in loans to buy houses. According to an article by Troy Adkins named, “What The National Debt Means To You”, the cost of borrowing money to purchase a house will increase. This would probably

At this current moment, the United States National debt is about $19 trillion dollars. The United States Total Debt is about $66 trillion dollars, which is an immense amount of money. It is not just a scary amount of money, it is a scary amount of money that could affect the economy of the United States and probably the people directly. It is important for the average person to at least know that are the United States Debts and how it could affect them. The debts of the United States, both National and Total, are big debts for the United States and it is something interesting and important that I noticed on the websites provided for