{"id":353,"date":"2024-05-30T03:23:27","date_gmt":"2024-05-30T03:23:27","guid":{"rendered":"https:\/\/course.oeru.org\/maec102\/?page_id=353"},"modified":"2024-05-30T03:23:27","modified_gmt":"2024-05-30T03:23:27","slug":"national-debt","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/maec102\/learning-pathways\/fiscal-policy\/national-debt\/","title":{"rendered":"National debt"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"Definitions\">Definitions<\/span><\/h2>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/maec102\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activities<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/saylordotorg.github.io\/text_principles-of-macroeconomics-v2.0\/s15-01-government-and-the-economy.html\">Principles of Macroeconomics: &#8220;Chapter 12, Section 1: Government and the Economy&#8221;<\/a>\n<\/p>\n<ul>\n<li> Read this section, which elaborates on the major components of government spending and the sources of government revenue. You will also learn about the terms budget surplus, budget deficit, balanced budget, and national debt. As you read, note the trends in the US government&#8217;s budget over time. Lastly, attempt the &#8220;Try It&#8221; exercises at the end of the section.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"Major_or_historical_sources_of_national_debt\">Major or historical sources of national debt<\/span><\/h2>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/maec102\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activities<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/en.wikipedia.org\/wiki\/History_of_the_United_States_public_debt\">Wikipedia: &#8220;History of the United States Public Debt&#8221;<\/a>\n<\/p>\n<ul>\n<li> Read this article, which covers several aspects of how the national debt in the US grew including the major contributions that stem from spending on wars and issues related to national defense.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"Burden_of_debt\">Burden of debt<\/span><\/h2>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/maec102\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activities<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/en.wikipedia.org\/wiki\/Government_debt\">Wikipedia: &#8220;Government Debt&#8221;<\/a>\n<\/p>\n<ul>\n<li> Read this article, focusing your attention on the &#8220;Implicit Debt&#8221; section. Among the interpretations to be gleaned from this reading are the facts that government can be the largest borrower, which drives interest rates higher than otherwise; other borrowers become reluctant to seek loans; and future generations inherit the debt without clarity regarding the associated benefits. You can probably come up with some interpretations on your own accord.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"External_debt\">External debt<\/span><\/h2>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/maec102\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activities<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/en.wikipedia.org\/wiki\/External_debt\">Wikipedia: &#8220;External Debt&#8221;<\/a>\n<\/p>\n<ul>\n<li> Read this article, which covers several aspects about who outside of a country owns the nation&#8217;s debt. Entities outside a country lend money to a government or other entity within a country. As debt is handled, principal and interest is paid and sometimes debts are forgiven or eliminated.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.035 seconds\nReal time usage: 0.039 seconds\nPreprocessor visited node count: 343\/1000000\nPreprocessor generated node count: 1011\/1000000\nPost\u2010expand include size: 9026\/2097152 bytes\nTemplate argument size: 3852\/2097152 bytes\nHighest expansion depth: 7\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:177089-0!*!*!!*!2!* and timestamp 20240530032327 and revision id 1003771\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/maec102\/learning-pathways\/fiscal-policy\/further-issues-around-fiscal-policy\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/maec102\/learning-pathways\/fiscal-policy\/summary\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Macroeconomics_activity_and_demand\/National_debt\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"28658a5b1fd55d6afe5a5bfd9e6663e8\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Macroeconomics_activity_and_demand\/National_debt\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"28658a5b1fd55d6afe5a5bfd9e6663e8\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>Definitions Major or historical sources of national debt Burden of debt External debt \u2190 Previous Next \u2192<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":343,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-353","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/pages\/353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/comments?post=353"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/pages\/353\/revisions"}],"predecessor-version":[{"id":354,"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/pages\/353\/revisions\/354"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/pages\/343"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/maec102\/wp-json\/wp\/v2\/media?parent=353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}