What are the affects of the U.S. deficit?
I'm doing a billboard project and its gotta be over a social issue, I chose the deficit and on my billboard my plan was to put "who'll pay the deficit" and below that put a picture of some kids. I really just need some info to backup my billboard ive tried finding some good sites but really cant find anything that kinda goes with my billboard, any help would be greatly appreciated.
what do you mean by inflate it away? I'm no government buff by any means just a feshman in college so im kinda clueless just chose this topic cause i saw it online somewhere and was ready to get this stupid project over, but doesnt the government add taxes and what not to pay for the debt they build up?
- 8 years agoFavorite Answer
Why does anyone have to pay the deficit? If our kids are anything like us, they will shove the deficit down to their kids.
The public debt has been reduced to zero only twice. Once was in the 1830's, when Andrew Jackson got into a snit over the Bank of the United States. Immediately after his administration was over, the Panic of 1837 ensued.
In the 1920's, the weaned-on-a-pickle Puritan Republican, Calvin Coolidge, who thought that spending money was a mortal sin, insisted on paying off the debt. The Great Depression followed.
Likewise, the Republicans, in 2006, poisoned the Postal Service budget, because they want to destroy it, and grant lucrative mail delivery contracts to their friends.
If the Republicans would get their filthy paws off the government, we would do better.
- 8 years ago
The effects of spending more than you make, which is essentially what the national deficit is, would be eventual bankruptcy or total financial collapse. There is a difference between the deficit and the total national debt, and you should first gain an understanding of the difference before you do anything. The deficit and the debt are two completely different things.Source(s): . Gork
- 8 years ago
economic growth. btw you dont pay back federal debt, you inflate it away