AU WK 2 Size of Federal Debt in 10 Years Discussion
AU WK 2 Size of Federal Debt in 10 Years Discussion
AU WK 2 Size of Federal Debt in 10 Years Discussion
Number 13: Must be 250 words or more. Must show work
Suppose the federal debt increases at an annual rate of 2% per year. Based on this assumption, complete the following.
- Use the compound interest formula (Unit 4B) to determine the size of the debt in 10 years. Assume the current size of the debt (the principal for the compound interest formula) is $20 trillion.
- How serious a problem is the gross debt? Locate arguments for both sides of the question.
- Using credible source, research various proposals for solving the budgetary problems of Social Security and Medicare and state your own opinion of what should be done. The Scholarly, Peer Reviewed, and Other Credible Sources table offers additional guidance on appropriate source types.
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