US National Debt Flashcard

Front

What is the approximate current US national debt?

Back

$26 trillion

Front

According to the presentation, what government expense will debt service exceed next year? Options: Education spending, Healthcare spending, Defense spending, Infrastructure spending

Back

Defense spending

Front

Which of the following is NOT mentioned as part of Trump's economic plans? Tax cuts, Tariffs on imports, Increasing minimum wage, Other economic programs

Back

Increasing minimum wage

Front

What fraction of government dollars currently goes to repaying debt?

Back

1 in 6

Front

How might higher interest rates affect individuals? Options: Make it easier to buy homes and cars, Make it harder to buy homes and cars, Increase savings account returns, Lower credit card interest rates

Back

Make it harder to buy homes and cars

Front

What is the Republican perspective on tax cuts?

Back

They can stimulate economic growth

Front

Which area is NOT mentioned as a potential target for spending cuts? Options: Environmental programs, Medicaid, Military spending, Both a and b are mentioned

Back

Military spending

Front

What potential downside of tariffs is mentioned in the presentation? Options: They could decrease government revenue, They might lead to trade wars, They could increase prices for consumers, They might cause job losses in export industries

Back

They might lead to trade wars

Front

In the 1990s, what was the eventual result of deficit reduction efforts?

Back

A budget surplus

Front

According to the presentation, what will debt service payments exceed in the near future?

Back

Defense spending