Week 3 Assignment 2: Homework 2
FIN 100: Principles Of Finance
Using only.gov Websites report the current GDP, the current Federal deficit, the current Federal debt, and the bottom line of the current (last) budget approved by Congress (surplus or shortage). Note that the fiscal year for the federal government is October 1 – September 31.
Current GDP: “Current-dollar GDP increased 5.3 percent, or $250.6 billion, in the third quarter to a level of $19,500.6 billion” (http://bea.gov/newsreleases/national/GDP/GDPnewsrelease.htm)
Current (2015) Federal Deficit: $666,000,000,000 (https://www.cbo.gov/topics/budget)
Current Federal Debt: $20,493,016,378,414.12 (http://treasurydirect.gov/NP/debt/current)
The Bottom Line of the Last Budget Approved: $3,508,000,000 (https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/reports/51384-marchbaselineonecol.pdf; pg15)
What inference can you draw from the numbers collected?
This country is screwed financially and unless we actively do something about it, we may end up being owned by another country altogether if we aren’t already. Coming out of fiscal year 2016 nearly half (43.4%) of our national debt is owned by other countries/international investors. Either out of our own ignorance, arrogance, or stupidity, if not a combination of all three we only increase our debt and continue to put ourselves deeper in the hole.
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