The Retirement of the National Debt PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Retirement of the National Debt PDF full book. Access full book title The Retirement of the National Debt by Marc Labonte. Download full books in PDF and EPUB format.
Author: Marc Labonte
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Marc Labonte
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Measuring the economic size of the federal government can be an elusive goal. Over the past 40 years, for example, the total outlays of the federal government have ranged between 17% and 23.5% of Gross Domestic Product (GDP). Yet, an alternative measure based on the government's consumption of goods and services, suggests a much smaller economic size: for over the past 40 years, this measure has ranged between 6% and 13% of GDP. The disparity between these two measures is accounted for by outlays that transfer income from some Americans to other Americans. One major transfer is interest on the national debt. The current and prospective budget surpluses suggest that the publicly held debt could be effectively retired with the coming decade. This will reduce (and eventually eliminate) future interest outlays. The government is then free to used this saved revenue for further debt reduction, other transfer payments, increased spending on goods and services, or tax cuts. If the spending option is chosen, it will increase the governmentÕs consumption of goods and services, and the share of GDP accounted for by government even though the outlays as a percentage of GDP will remain constant. A transfer payment will have been converted into an outlay that will increase the percentage of GDP consumed by the federal government. Depending on which measure of size is used, the economic size of the federal government could increase. This report will updated as events warrant.
Author: William Withers
Publisher: Studies in History, Economics, and Public Law, 374
ISBN:
Category : Business & Economics
Languages : en
Pages : 352
Get Book Here
Book Description
Looks at the habits of saving, the distribution of income, and changes in the price level in their relations to the public debt after World War l.
Author: Marc Labonte
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Jane R. Christensen
Publisher: Nova Biomedical Books
ISBN:
Category : Business & Economics
Languages : en
Pages : 172
Get Book Here
Book Description
The growing national debt seems to be of no interest in America at the present time. This is no doubt because its burden will be largely shifted forward to future generations who now are either not yet born or are only children. Many say let them worry about themselves! However, a vast national debt can also impact today's society and for that reason alone, should be an important issue for voters. This book is a primer on the national debt and the issues surrounding it. CONTENTS: Preface; The Federal Government Debt: Its Size and Economic Significance; The National Debt: Who Bears its Burden?; What if the National Debt Were Eliminated? Some Economic Consequences; The Retirement of the National Debt: Will it Increase the Economic Size of the Federal Government?; The Debt Limit: The Need for Increases; How Budget Surpluses Change Federal Debt; The Debt Limit: The Need to Raise it After Four Years of Surpluses; Paying Down the Federal Debt: A Discussion of Methods; Surpluses and Federal Debt; Basic Federal Budgeting Terminology; Index.
Author: Robert Mallory MacIntosh
Publisher:
ISBN:
Category : Finance
Languages : en
Pages :
Get Book Here
Book Description
Author: Charles W. Steadman
Publisher: Praeger
ISBN: 0275943607
Category : Business & Economics
Languages : en
Pages : 0
Get Book Here
Book Description
The Washington financier who first proposed creation of a trust fund to retire the national debt has written a book outlining a new plan that would prevent Congress from raiding the fund to supplement the cost of regular government programs. In 1982 he suggested a temporary 5% tax on manufacturers sales. The income would go into a debt trust fund similar to the highway trust fund. The $1 trillion federal debt would have been retired in five years (by 1985 or 1986) under that proposal. In the past decade, however, federal trust fund have not fared as well. For example, contributions to the social security fund essentially are borrowed for the regular budget. The trust fund contains federal I.O.U.s. A special tax that raised secure funds exclusively for debt retirement might well get public support. Without federal interest payments, the 1992 federal deficit would have been cut to $114 billion from $314 billion. Washington banker and attorney Charles W. Steadman, who made the 1982 proposal, now has eliminated the trust fund from his method of paying off the debt. In The National Debt Conclusion: Establishing the Debt Repayment Plan, (Praeger Publishers, November 1993), Steadman lays out his proposal to eliminate the debt in ten years. Steadman would issue new debt bonds for existing federal government debt securities in a single exchange. A sales tax at the producers' level would be dedicated solely to paying off the new debt bonds on schedule. There would be no trust fund. The rate of the sales tax would be scheduled to raise only enough money each year to call the bonds scheduled for retirement in that year. The debt bonds could be retired only by income from the special purpose tax. Steadman's plan establishes a contract between the government and the bondholders, who would have no claim on general funds of the United States. The Congress would have no way to borrow from the debt retirement receipts. Steadman argues that America must adopt a fundamentally different fiscal structure before the debt burden ultimately causes collapse of the nation's financial structure.
Author: Simon Johnson
Publisher: Vintage
ISBN: 0307947645
Category : Business & Economics
Languages : en
Pages : 386
Get Book Here
Book Description
From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it. With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.
Author: Carl Lane
Publisher:
ISBN: 9781594162664
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 0
Get Book Here
Book Description
The staggering United States debt has a direct impact on every American, yet few are aware of where the debt came from and how it affects their lives The United States has a debt problem--we owe more than $18 trillion while our gross domestic product, the value of all goods and services produced in America, is only $17.5 trillion. To pay down the debt, some recommend austerity, cutting federal expenditures. Others suggest increasing taxes, especially on the wealthiest Americans. In Understanding the National Debt: What Every American Needs to Know, economic historian Carl Lane urges that the national debt must be addressed in ways beyond program cuts or tax increase alternatives, but change can only occur when more Americans understand what constitutes our debt and the problems it causes. The gross national debt is composed of two elements: the public debt and "intragovernment holdings." The public debt consists of bonds, bills, and notes purchased by individuals, banks, insurance companies, hedge and retirement funds, foreign governments, and university endowments. Intragovernment holdings refers to money that the U.S. Treasury borrows from other parts of the government, principally Social Security and Medicare. This accounts for approximately a quarter of the gross national debt, but that is money that we owe to ourselves, not another entity. The more the government borrows, the less is available for private sector investment, creating a "squeeze" effect that inhibits economic growth. The most burdensome problem is the interest due each year on the debt. Every dollar spent on interest is a dollar less for other purposes. Those elements of the federal budget which are termed "discretionary" suffer. The mandatory elements of the budget--Social Security, Medicare, Medicaid, and the interest on the debt--must be provided for, but defense and national security, education, energy, infrastructure repair and development, and other needs wind up with less. By understanding the national debt we have an opportunity to address our real debt challenge--its principal and interest.
Author: William Withers
Publisher:
ISBN:
Category :
Languages : en
Pages : 344
Get Book Here
Book Description
