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“$ 10 million?”
“$ 100 million?”
“No, you’re crazy, it must be more than that, it must be like billions.”
“Yes, that must be at least 50 billion dollars. Maybe even $ 100 billion.”
Students have a rude awakening when they realize how much money is owed in the national debt. (East)
“So much?”
“Maybe”
“No, it doesn’t have to be even more than that. I bet it was Trillion Dollars.”
“Trillion dollars? There’s no way it’s so much.”
I just learned my high school seniors in the US Government class on budgets and national debts and asked, “How much money do you think we owe? How much is our National debt? “
Their funny answers, ranging from millions to a billion to a million dollars, are funny, but also sad. Finally, I can’t listen anymore, feeling like the evil queen is given to snow white, poisoned apple, tell them: “37 trillion dollars.”
Invisible tax: Government debt rises your finance
There is a stunned silence.
Then I walk around the room with my base and I start shaking my pupils, every time I say, “Thank you.” They look at me, confused. Finally the boy asks: “Why do you thank us?
The long hour moves like another hand on guard. Here’s an hour of 24. February 2012. year, when the national debt was less than $ 22 trillion. (AP)
“Because you’re the ones who pay it.”
Suffered silence.
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Of course, many of them heard, in one way or another, about the problems of Washington consumption, deficits and debts. But until this moment, they finally realized what really meant – and what would mean for them. Many of them are concerned that they will be performed Student Loan debt – were not aware of the other debt they inherit.
I put USDEBTCLOCK.ORG Get up, along with a photo of my grandchild that plays in our yard and ask, “How much does he owe?”
They need a minute, but they find a section “debt per citizen” – 108.010 dollars. She is 3 years old.
From the immediate interest, “debt on the taxpayer”, because some have already started paying taxes, and most will soon be soon. That’s $ 323,051.
I say, “Look at that debt debt – what is the worst number there? Not the highest, The worst. ”
After a few minutes, I direct their attention to the “interest in debt” section. It’s a little more than a trillion dollar a year.
Their funny answers, ranging from millions to a billion to a million dollars, are funny, but also sad. Finally, I can’t listen anymore, feeling like the evil queen is given to snow white, poisoned apple, tell them: “37 trillion dollars.”
“What does that money buy?” One of them asks. I’m taking a piece of waste paper from the table, crumpling it, I say, “Tax liability, it’s worth exactly as long as the money is not building any bombers or builds any bullets.”
I show them that in July 2020, the debt service was only 386 billion dollars a year, and National debt was $ 26 trillion. I ask why the debt service would be 2.6 times more, when the national debt is “only” 1.4 times higher. The answer is that interest rates have increased, greatly increases the interest we pay for the debt.
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Students try to make sense of solutions. “Why don’t you just pay him by printing more money?”
I explain hyperinflation and passing about several 100 million Deutsche Brand from Germany in 1923. years. I say a story about a German woman who fills in the store, leaving him for a moment as she chose some bread and milk, and then chose some bread and milk, and then returned to find the old bar and useless.
We watch the satirical video about the port 2009. “American government phases Fake coup to delete the national debt” In which newspaper information programs inform the viewers:
“The White House has made a plan for emergencies to eliminate all the financial obligations of the American government, killing a few congressman, and then he said” to “hear my big debt. Now” heard my big Duga. From where and all her huge debt no longer exists. From now on, it will be called “Heals. Octavia. Don’t even try to collect the owed funds! ‘”
Invisible tax: Government debt rises your finance
The newspaper then explains that “representatives on both sides of the passage said that the plan was left to lower our debt after the idea like the lower part of the country for insurance and conceals of the nation as Canada was considered untruth.”
I ask a student why it seems almost comical as they are concerned that they were in 2009. years on national debt. There is a break. Then one student raised his hand and answer, sad, “because there was only $ 10 trillion.”
American Marines from the Breeze of the company 1. Battalion, 6. Marines, walk in the city of Marjah in the fourth province of the Province of Ali. The area is infected with bombs on the road, an obstacle that is too big company down, said spokesman in 2010. years. (Reuters)
Students want to know how – allegedly responsible adults – they could do it to them. I am listing some of the reasons:
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- High costs Medicaid
- Two wars with more trillion dollars
- A military budget Which Institute for the International Stockholm International Institute estimates that more than the following nine countries are combined.
In addition to the greater political reasons, I ask, “did you ever see your parents quarrel when someone wanted to buy something?”
Hands come. A girl of volunteers had a long-term argument for her before – Mom wanted to buy a new refrigerator, and Dad said, “We can’t afford it.” They were angry with each other.
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“What happened? How did they solve the conflict?” I ask.
“They bought a new one. I think they put it on their credit card.”
“Well, there’s your answer.”
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