http://topics.nytimes.com/topics/reference/timestopics/subjects/n/national_debt_us/index.html
This is a complicated issue!!
Read the main article on this link - then
1. Define what is meant by - Debt Ceiling
2. What are the ramifications of not solving this issue?
3. What are the GLOBAL IMPLICATIONS of NOT solving this issue?
4. Write your opinion of how this issue is being handled by our Elected officials
Answer all of these prompts on the Blog
1. By "Debt Ceiling" it means the country has met its limit in debt.
ReplyDelete2. Our country might not be able to pay its bills. It will leave broader economic scars.
3. Be borrowing more money from other countries.
4. They are handling it by preparing ideas to make it better.
1. Debt ceiling mean to start to the slow bleed of the tax increases and spending cuts.
ReplyDelete2. It will soon to lead to more and more debt and also the spending cuts.
3.People will soon have to lend from other places. I dont know where but it's going to be a lot.
4.President Obama is starting to do things that are solving this issue.
1. Debt Ceiling is the maximum borrowing power of a government.
ReplyDelete2. It would lead to cuts in military spending, education, transportation, and Medicare payments to health care providers.
3. What would happen globaly would be that the global economy would fall if the American economy did.
4. I believe that President Obama and the members of Congress are trying to solve this issue but there are people who don't want to compromise and it is making the situation worse than better.
1) Debt Ceiling is the maximum amount of money a country can borrow
ReplyDelete2) We would have to cut spending in other areas to help us pay off our debt
3) Other economies would fall because other countries depend on some materials from us and they depend on us to buy things from them.
4) I think this issue is trying to be solved but the people elected in office can't come to an agreement on how they want it solved.
1. Debt Ceiling is like a debt limit. It is the maximum borrowing power of a governmental entity.
ReplyDelete2. The country won't be able to pay all of its bills and there will be a downgrade in the nation's credit rating.
3. We might be in trouble of falling off the fiscal cliff
4. One way on how this is that President Obama is trying to send the troops by home.
1. Debt ceiling is the the maximum amount of money a country borrow
ReplyDelete2. We would have a raise in taxes and maybe lose some jobs
3. Globally if we fall, many other countries would fall due to them relying on us.
4. People are trying to solve the problem, but first they have to reach a compromise
1. Define what is meant by - Debt Ceiling
ReplyDeleteDebt Ceiling basically means that the country has met the maximum amount of money it can borrow to be in debt.
2. What are the ramifications of not solving this issue?
we would have A LOT of budget cuts and it would not be healthy for our nation.
3. What are the GLOBAL IMPLICATIONS of NOT solving this issue?
All the other countries economies would be screwed up
4. Write your opinion of how this issue is being handled by our Elected officials
I think that this issue is trying to be solved but nobody can get an aggreement on what is right and so now it is gonna take forever. It is aggervating because in the long term who is gonna pay for it?
Don't use phrases - like screwed up - explain your ideas!!!
Delete-the maximum borrowing power of a governmental entity
ReplyDelete-fall into even deeper debt, loose military, and it will hinder any progress
-the world would fall into a depression because all the economies run intertwined and simultaneously
-i believe our elected officials are trying their best but their is constant friction with the opposing party
1) Debt Ceiling, means the country has has reached as far as they can go on their debt limit.
ReplyDelete2)It would lead to budget cuts, and increasing debt.
3) Globally economies around the world would fall, because they depend on the United States economy.
4)I believe that President Obama and congress need to start making some serious changes in his policies, if he wants to start fixing things.
1. Debt ceiling is also known as the debt limit. When a country reaches their debt ceiling, that means they've reached the limit of debt they can be in.
ReplyDelete2. The ramifications of not solving this issue would be falling into deeper debt.
3. The Global implications of not solving this issue is that eventually economies globally would fall into a depression as well.
4. I think the president and congress need to start paying more attention and try their hardest to fix this problem before we fall into deeper depression.
1. Debt Ceiling is the highest a country can go in debt.
ReplyDelete2. If this problem is not solved, then our country will have large budget cuts and even more debt.
3. All of the countries that we have investments in will have their economies wrecked, and the power and respect of the US will fall.
4. I think that the President is doing a terrible job at solving the debt ceiling. All of the elected officials are too stubborn and are not willing to compromise on the issue.
1) Debt ceiling is the maximum amount of money the country is allowed to borrow as set by Congress. Federal law requires Congress to limit how much the country borrows. It's been raised before, but congress refuses to raise it anymore without a deficit-reduction package.
ReplyDelete2) The country's credit score will decrease more, large tax increases, spending cuts and financial stability. $2.4 trillion worth of spending cuts in 10 years and $900 billion in other cuts and if congress fails to enact the cuts then across-the-board cuts will take place. $8 trillion in tax increases and spending cuts to take place in January 2013.
3) The U.S. will owe other countries trillions of dollars, be so far in debt that it is financially unstable and could be forced into something. Other countries' economies will fail due to their dependence upon the U.S.' economy. Few countries will come out successful due to the debt of other countries. U.S. has investments in other countries, which if we reach the debt ceiling then they will fall due to our investment being useless basically.
4) I think the debt ceiling should be raised, but that everyone should just focus on working to pay more back and increase the credit score and lower the debt ceiling. It will cause jobs to be lost and taxes to increase, but I think it's worth it since, you know, almost every country will fall due to the debt of the U.S. You can't please everyone.