The federal government's or "national" debt is reaching historical levels. The federal government now borrows more money to pay for programs than ever before. Estimates show that this year's deficit will reach 1.4-1.5 trillion dollars and contribute to the seemingly uncontrollable growth of the debt.Because of the growing size of the debt a fierce political debate has arisen over how to best deal with this problem. Republicans and Democrats in Congress are currently battling over how this issue should be addressed.
You are going to investigate this controversy and comment to this post by doing the following:
1) Define the words debt and deficit. How are they different? How are they related?
2) Read the attached articles (by clicking on the active links below) and summarize what you learn about the debt and deficit from these articles. Your summary should be based entirely on the articles found below and should not be a list of facts. I expect the summary to be written in coherent paragraphs.
What They're Not Telling You
The 'Tipping Point' of American Debt
Out of debt: A tax increase is no way to start
