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Have you ever purchased a treasury bond such as a Series EE or I savings bond? If so, you've lent money to the government. This
Have you ever purchased a treasury bond such as a Series EE or I savings bond? If so, you've lent money to the government. This is one of the ways in which the government borrows money to help bridge a budget deficit. However, just like when we borrow money from the bank, the government also pays interest on this debt. Conduct some quick research, find how large the federal deficit is, and explain what this figure represents. Conduct a little more research, find out how large the federal debt is today, and explain what this figure represents. Finally, find the federal debt level from the year you were born and describe how much it has increased. Explain why this figure has grown as much as it has, what you feel should be done about it, and how? For example, do we cut back on Social Security or increase taxes
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