Debt

DEBT

Cory HodsdonRoxanne Martinez

Tuesdee Ford

What is Debt???As per Webster's (http://www.merriam-webster.com/dictionary/debt)

Something owed such as;Money goodsServices

An “obligation” or liability to pay someone

Is this honestly what we think of when thinking about debt? (individuals, US, Globally?)

You Tube Video

How long has debt been around? Not a clear timeline for individuals or

government entities

Use debt to describe cost inWarNatural DisastersRampages of individualsFlagrant spending by political individuals

Source # 9

Political Consequences? War Political infighting Effects of the people who are governed

○ Medicaid○ Social Security○ Health Reform○ Small Businesses○ Military Pay

Source #9

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

Texas Debt Issues

37.71 Billion in outstanding debt!!! (2010)

Texas budget cuts more than $4 billionfrom our schools and studentsnot our ballooning state debt

Texas Transportation needs Money spent on Parks and State Facilities

State of Texas Debt Clock

United States Debt Issues

Debt is more than 16 trillionCongress Demanding cuts!!

Spending > Money taken in Social Security problem since

1970s Debt Ceiling

U.S. National Debt Clock : Real Time

Source: #7 & 8

United States Debt Issues

Current Administration VS Prior US Government borrows 40 Cents of every

$1 you spend Emergency spending

Source #7 & 10

Global Debt Issues

Credit reporting is downgradedChinaEuropeEven the United States

Developed Countries VS Underdeveloped Countries Panic Blaming Game

World Debt Clocks

Source # 6 & 9

Who Suffers? EVERYONE!!! Individuals

FamiliesSmall Business

United StatesSocial ProgramMiddle Class PoorEconomy

GloballyUnderdeveloped countriesPoor

Mental Health related to debt

Who benefits? Banks Big Corporations Government

Promoting the Problem? Living Beyond our

means Aging populations

Social SecurityMore healthcare debt

Decline in education qualityAmericans don’t know

alot about debt

Retirement of “Baby Boomers”

VotingLess than 30% in 2010

elections in the US Blaming Game

Source #7 & 8 &10

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!!!

IndividualsGovernment

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?

References1. http://www.youtube.com/watch?v=Kz6xG2YtyyE2. http://www.usdebtclock.org/state-debt-clocks/state-of-texas-debt-clock.html3. http://www.usdebtclock.org/4. http://www.usdebtclock.org/world-debt-clock.html5. http://www.merriam-webster.com/dictionary/debt 6. 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

7. Dell, S. (2005). Crisis management and the international debt problem. JSTOR, 40(4), 655-688. doi: 40202317

8. Everything you wanted to know about the debt ceiling and its impact. (2011). Hudson Valley Business Journal, 22(30), 6. Retrieved from EBSCOhost.

9. Ryan, F. (2011). United States needs serious solutions to solve our big problems. Central Penn Business Journal, 27(10), 15. Retrieved from EBSCOhost.

10. 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

11. Highlights of Budget Control Act. (2011). CQ Weekly, 69(32), 1761-1762. 12. State bond finance. (2010). Retrieved from http://www.brb.state.tx.us/bfo/bfo.aspx