INTRODUCTION

According to the U.S. Treasury Department, the “national debt is the amount of money the federal government has borrowed to cover the outstanding balance of expenses incurred over time.” In recent years, the federal government has continued a practice of deficit spending to provide “important programs and services” for the American people. However, with each passing yearly deficit, the national debt continues to grow.

The Pew Research Center reports that the U.S. national debt currently stands at over $31 trillion. As the national debt continues to grow, so does the country’s debt service: this figure now averages about $725 billion per year to pay for the interest on the current debt alone (U.S. Treasury Department). While many of these interest payments go to other U.S. government entities that hold portions of the national debt, such as the Federal Reserve and the Social Security trust fund, over half of the outstanding debt is held by other public investors, both in the United States and abroad.

As many of the future steps to promote fiscal responsibility are complex, the path forward is murky. Some people advocate for increasing tax rates or closing existing tax loopholes to increase revenues. Other people advocate for cutting or reducing government services and thereby decreasing expenditures now and in the future. And still others advocate for alternative measures, such as zero-balance budgeting and the return to regular order in the budgeting process.

So, what should be done? This deliberation includes twelve video clips, two articles, and several educational activities to guide students through a review of the history of the U.S. national debt and the contemporary arguments regarding how the national debt should be addressed in the future. After a careful review of multiple perspectives, students will determine how the national debt should be addressed and be presented with several optional extensions to take an active role in the debate.

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Objectives and Outcomes

• Students will be able to describe key vocabulary terms and concepts associated with the debate on how to address the national debt.
  
  
• Students will be able to identify and explain aspects of the debate of how to best address the national debt, including those arguments related to taxation, spending, and process.
  
  
• Students will be able to evaluate arguments related to how to address the national debt and formulate an opinion on this question.

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