Mortgaging Our FutureThe National Debt:

What is the national Debt?

National Debt: the money borrowed by the federal government of the United States through the issuing of securities by the Treasury and other federal government agencies. Consists of debt held by the public and intragovernmental debt.

U.S. Fiscal Policy

$3.67 Trillion

Financial statements of the u.s.a.

Entitlement liabilities

• “Amounts equal estimated present value of projected revenues and expenditures for scheduled benefits over the next 75 years of certain ‘Social Insurance’ programs (Social Security, Medicare Parts A, B, & D, Railroad Retirement).”

Interest on the national debt

• Cost of Net Interest on U.S. National Debt to Surpass $915 Billion by 2022

• Cost of Net Interest on U.S. National Debt to Surpass Defense Spending by 2017

Infrastructure

• America Has No Infrastructure Plan & No Way to Pay For It

• A Capital Budget To Save America

• A Crumbling U.S. National Infrastructure

Unsustainability of federal programs

State & local governments

States Dependent on the Federal Government

America’s Fiscal Unsustainability

Major holders of u.s. treasuries

GDP Projections By Country 1990-2030

America 2022

Total U.S. National Debt (Bonded): Approximately $25 Trillion

Net Interest on U.S. National Debt: Approximately $915 Billion

what is needed in America

1. An Honest Discussion About the Unsustainability of Our National Debt and Deficits.

2. An Open Debate About the Size and Role of Our Federal Government, Now and in the Future.

3. A Realization that America’s Long-Term Fiscal Sustainability Cannot Be Subject to the Politics of the Next Election Cycle.

4. An Understanding that in Order to Solve the Long-Term Fiscal Crisis of Our National Debt, Shared Sacrifices Must Be Made by the American People.

Bibliography• Slide 2 – “Federal debt basics – How large is the federal debt?”. Government Accountability Office.

Retrieved March 6, 2013.• Slide 3 – nationalpriorities.org – Source: OMB. Retrieved March 6, 2013.• Slide 4 – US Treasury Department. Fiscal Year 2012: Financial Report of the United States

Government. “A Citizen’s Guide” p. viii.• Slide 5 - US Treasury Department. Fiscal Year 2012: Financial Report of the United States Government.

p. 19. • Slide 6 – money.cnn.com – Source: CBO , 2012 – Retrieved March 6, 2013.• Slide 6 – Geo-graphics - http://blogs.cfr.org/geographics/2009/10/26/interest-expense/ - Source:

CBO – Retrieved March 6, 2013. • Slide 8 – Peter G. Peterson Foundation - http://www.pgpf.org/Chart-Archive/0027_entitlement-

programs-proj.aspx - Source: CBO. Retrieved March 6, 2013.• Slide 9 – Pelican Post - http://www.thepelicanpost.org/2011/03/29/a-first-in-american-history-2011-

federal-aid-set-to-overwhelm-state-general-funds/ - Cato Institute – Wyoming Liberty Group – Retrieved March 6, 2013.

• Slide 10 – Edward Mazur. “Why State and Local Government Leaders Should Read and Heed the Financial Report of the U.S. Government. Newport News. September 1, 2010.

• Slide 11 – Comeback America Initiative. March 25, 2011. http://5minforecast.argorafinancial.com/were-number-28/

• Slide 12 – mygovcost.org - http://www.mygovcost.org/wp-content/uploads/2012/09/summer-2012-to-whom-does-the-us-government-owe-money - Source: US Treasury Department - June 2012.

• Slide 13 – World Gross Domestic Product by Region – 1990-2030 - http://rainforests.mongabay.com/energy/gdp.html

• Slide 14 – Statista - http://www.statista.com/statistics/216998/forecast-of-the-federal-debt-of-the-united-states/ - Source: CBO, 2012 – Retrieved March 6, 2013.