A Nation in Debt
How Can We Pay the Bills?
National Issues Forums Institute
OverviewIt is not unusual—and not necessarily a problem—for a government to have at least some debt. But how much is too much? Many Americans think the US national debt is too large and want to try to get it under control. By the end of fiscal year 2018, the US government owed around $21.7 trillion in gross federal debt ($15.8 trillion in public debt and $5.9 trillion in intragovernmental debt—money that is owed by one part of the government to another part). It was $10 trillion just ten years ago and is projected to rise to $34 trillion in another decade.
This issue book asks: What should we do to shrink the national debt? In addressing it, we have many things to con- sider and weigh. This guide lays out three ways of approaching the national debt. Some deal with reducing the debt more directly, while others would increase the debt in the short term with no long-term guarantee that the national debt would be reduced. Each suggests actions that we might take, but every action has trade-offs we should consider. By working through each option, we can come to our own individual and collective decisions about what we would support and under what conditions.
About National Issues Forum
The National Issues Forums (NIF) is a network of organizations that brings together citizens around the nation to talk about pressing social and political issues of the day. Thousands of community organizations, including schools, libraries, churches, civic groups, and others, have sponsored forums designed to give people a public voice in the affairs of their communities and their nation. For more information about NIF and for additional publications, see NIF’s website at www.nifi.org.