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Debt

Cory Hodsdon Roxanne Martinez Tuesdee Ford. Debt. What is Debt???. As per Webster's (http://www.merriam-webster.com/dictionary/debt) Something owed such as; Money goods Services An “obligation” or liability to pay someone

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Debt

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  1. Cory Hodsdon Roxanne Martinez Tuesdee Ford Debt

  2. What is Debt??? As per Webster's (http://www.merriam-webster.com/dictionary/debt) • Something owed such as; • Money • goods • Services • An “obligation” or liability to pay someone • Is this honestly what we think of when thinking about debt? (individuals, US, Globally?) You Tube Video

  3. How long has debt been around? • Not a clear timeline for individuals or government entities • Use debt to describe cost in • War • Natural Disasters • Rampages of individuals • Flagrant spending by political individuals Source # 9

  4. Political Consequences? • War • Political infighting • Effects of the people who are governed • Medicaid • Social Security • Health Reform • Small Businesses • Military Pay Source #9

  5. 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

  6. Texas Debt Issues State of Texas Debt Clock • 37.71 Billion in outstanding debt!!! (2010) • Texas budget cuts more than $4 billion • from our schools and students • not our ballooning state debt • Texas Transportation needs • Money spent on Parks and State Facilities

  7. United States Debt Issues U.S. National Debt Clock : Real Time • Debt is more than 16 trillion • Congress Demanding cuts!! • Spending > Money taken in • Social Security problem since 1970s • Debt Ceiling Source: #7 & 8

  8. United States Debt Issues • Current Administration VS Prior • US Government borrows 40 Cents of every $1 you spend • Emergency spending Source #7 & 10

  9. Global Debt Issues World Debt Clocks • Credit reporting is downgraded • China • Europe • Even the United States • Developed Countries VS Underdeveloped Countries • Panic • Blaming Game Source # 6 & 9

  10. Who Suffers? • EVERYONE!!! • Individuals • Families • Small Business • United States • Social Program • Middle Class • Poor • Economy • Globally • Underdeveloped countries • Poor • Mental Health related to debt

  11. Who benefits? • Banks • Big Corporations • Government

  12. Promoting the Problem? • Living Beyond our means • Aging populations • Social Security • More healthcare debt • Decline in education quality • Americans don’t know alot about debt • Retirement of “Baby Boomers” • Voting • Less than 30% in 2010 elections in the US • Blaming Game Source #7 & 8 &10

  13. 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!!! • Individuals • Government

  14. 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?

  15. References • http://www.youtube.com/watch?v=Kz6xG2YtyyE • http://www.usdebtclock.org/state-debt-clocks/state-of-texas-debt-clock.html • http://www.usdebtclock.org/ • http://www.usdebtclock.org/world-debt-clock.html • http://www.merriam-webster.com/dictionary/debt • 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 • Dell, S. (2005). Crisis management and the international debt problem. JSTOR, 40(4), 655-688. doi: 40202317 • Everything you wanted to know about the debt ceiling and its impact. (2011). Hudson Valley Business Journal, 22(30), 6. Retrieved from EBSCOhost. • Ryan, F. (2011). United States needs serious solutions to solve our big problems. Central Penn Business Journal, 27(10), 15. Retrieved from EBSCOhost. • 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 • Highlights of Budget Control Act. (2011). CQ Weekly, 69(32), 1761-1762. • State bond finance. (2010). Retrieved from http://www.brb.state.tx.us/bfo/bfo.aspx

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