Understanding the US National Debt

What are the two main categories of the US national debt?

• Intragovernmental debt and foreign debt

• Corporate debt and public debt

• Public debt and intragovernmental debt

• Public debt and private debt

Which countries are the largest holders of US public debt?

• Canada and Mexico

• Germany and France

• India and Brazil

• Japan and China

What is the primary reason for the US national debt?

• Foreign aid programs

• High interest rates

• Government spending exceeding revenue

• Excessive military spending

Which federal agency is a major spender of the US national debt?

• Environmental Protection Agency

• Department of Education

• Department of Defense

• Department of Agriculture

What percentage of total federal spending is accounted for by Social Security?

• 25%

• 10%

• 19%

• 30%

How much did Medicare and Medicaid together represent in total spending?

• $1.3 trillion

• $1.5 trillion

• $1.7 trillion

• $2 trillion

What is a growing portion of the federal budget dedicated to?

• Foreign aid

• Infrastructure

• Interest payments on previous debts

• Education

What is expected to happen to interest payments as interest rates increase?

• They will decrease

• They will remain the same

• They will rise drastically

• They will fluctuate

What was the focus of the Infrastructure Investment and Jobs Act passed in 2021?

• Healthcare

• Education

• Transportation, broadband, and utilities

• Defense

What is the main concern regarding the US national debt?

• It is not being used effectively

• It is getting out of hand

• It is not being monitored

• It is decreasing too quickly