Six Steps to Paying Off the U.S. Government Debt
Publication Date: March 2009
Publisher(s): National Center for Policy Analysis (U.S.)
Keywords: Social security; revenue; debt; federal
Coverage: United States
To counteract the recession that began in December 2007, Congress has passed foreclosure assistance, tax rebates, bank bailouts and $787 billion of stimulus. This spending will result in massive federal budget deficits and increasing government debt - projected to rise to $23 trillion by 2019. This amount of debt will hurt economic growth and burden future generations.