DEBT
Cory Hodsdon
Roxanne Martinez
Tuesdee Ford
What is Debt???As per Webster's (http://www.merriam-webster.com/dictionary/debt)
Something owed such as;Money goodsServices
An “obligation” or liability to pay someone
Is this honestly what we think of when thinking about debt? (individuals, US, Globally?)
You Tube Video
How long has debt been around? Not a clear timeline for individuals or
government entities
Use debt to describe cost inWarNatural DisastersRampages of individualsFlagrant spending by political individuals
Source # 9
Political Consequences?
War Political infighting Effects of the people who are governed
○ Medicaid○ Social Security○ Health Reform○ Small Businesses○ Military Pay
Source #9
San Antonio Debt
Democratic party pays off debt
Working on debt relief Working to lessen the
debt burden of the poeple of SanAntonio
Getting donations in order to do so
Source #6
Texas Debt Issues
37.71 Billion in outstanding debt!!! (2010)
Texas budget cuts more than $4 billionfrom our schools and studentsnot our ballooning state debt
Texas Transportation needs Money spent on Parks and State Facilities
State of Texas Debt Clock
United States Debt Issues
Debt is more than 16 trillionCongress Demanding cuts!!
Spending > Money taken in Social Security problem since
1970s Debt Ceiling
U.S. National Debt Clock : Real Time
Source: #7 & 8
United States Debt Issues
Current Administration VS Prior US Government borrows 40 Cents of every
$1 you spend Emergency spending
Source #7 & 10
Global Debt Issues
Credit reporting is downgradedChinaEuropeEven the United States
Developed Countries VS Underdeveloped Countries Panic Blaming Game
World Debt Clocks
Source # 6 & 9
Who Suffers?
EVERYONE!!! Individuals
FamiliesSmall Business
United StatesSocial ProgramMiddle Class PoorEconomy
GloballyUnderdeveloped countriesPoor
Mental Health related to debt
Who benefits?
Banks Big Corporations Government
Promoting the Problem?
Living Beyond our means
Aging populationsSocial SecurityMore healthcare debt
Decline in education qualityAmericans don’t know
alot about debt
Retirement of “Baby Boomers”
VotingLess than 30% in 2010
elections in the US Blaming Game
Source #7 & 8 &10
Solutions
Budget Control Act 2011 VOTE!! Education on debt and avoidance of debt
Sacrifice spending Living within our means Programs set in place through Government to limit
spending Sticking to a budget!!!
IndividualsGovernment
Discussion Questions
Within the next 10 years, will the US still have it’s current amount of debt or will the plans and Budget Acts fix the problems we face today? Or wll it get worse?
How does personal debt effect you?U.S. debt?
References1. http://www.youtube.com/watch?v=Kz6xG2YtyyE
2. http://www.usdebtclock.org/state-debt-clocks/state-of-texas-debt-clock.html
3. http://www.usdebtclock.org/
4. http://www.usdebtclock.org/world-debt-clock.html
5. http://www.merriam-webster.com/dictionary/debt
6. Chasnoff, B. Democrats pay off local party. [Print Photo]. Retrieved from http://www.mysanantonio.com/news/local_news/article/Democratspay-off-local-party-s-debt-2219791.php
7. Dell, S. (2005). Crisis management and the international debt problem. JSTOR, 40(4), 655-688. doi: 40202317
8. Everything you wanted to know about the debt ceiling and its impact. (2011). Hudson Valley Business Journal, 22(30), 6. Retrieved from EBSCOhost.
9. Ryan, F. (2011). United States needs serious solutions to solve our big problems. Central Penn Business Journal, 27(10), 15. Retrieved from EBSCOhost.
10. Hersh, J. (2011). China: U.s. debt crisis is giving democracy a bad name. Retrieved from http://www.huffingtonpost.com/2011/07/27/china-debt-crisis-democracy_n_911301.html
11. Highlights of Budget Control Act. (2011). CQ Weekly, 69(32), 1761-1762. 12. State bond finance. (2010). Retrieved from http://www.brb.state.tx.us/bfo/bfo.aspx