A political candidate has written an op-ed piece in which she claims that the federal government debt
Question:
A political candidate has written an op-ed piece in which she claims that the federal government debt has continually grown and is out of control. She includes the following graph of consolidated government debt as evidence to support her argument.
She further argues that there is no way the government can sustain this level of debt by comparing it to a person who is constantly spending more than they make and racking up large amounts of consumer debt.
a. This graph shows consolidated government debt of $2.35 trillion in 2021, but you’ve read that federal government debt is $1.2 trillion. What explains the difference?
b. Do you think her presentation of the data speaks to whether the debt is sustainable or not? How might you give greater context?
c. Is the writer’s argument about personal debt being similar to government debt a valid argument? Why or why not?
Step by Step Answer:
Principles Of Macroeconomics
ISBN: 9781982166649
1st Canadian Edition
Authors: Betsey Stevenson, Justin Wolfers, Philip Oreopoulos, Kevin Milligan