Consider the debt and deficits of the U.S. government.Twenty years ago, the accumulated federal-government debt amounted to
Question:
Consider the debt and deficits of the U.S. government.Twenty years ago, the accumulated federal-government debt amounted to just over 30 percent of the nation's annual gross domestic product.In fiscal year 2020, the debt stood at 100 percent of the nation's GDP.Under current trends, debt will amount to almost double the nation's annual GDP by 2050.Oddly, few observers think this is a problem right now, especially in view of our government's mission of providing financial assistance to those harmed by the Covid pandemic.Yet some observers feel that the federal debt can't go on this way forever. What is your position on this matter?
You will write persuasive essayon the following topic:Do you feel that our federal government's debt is a major problem for our country?Yes or no.
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,