What is the current U.S. federal government deficit?
Critical Analysis
Find answers to the following questions using the visual above, your big brain, the information provided and any links below:
A deficit occurs when an entity spending exceeds its revenues. What is the current deficit for the U.S. federal government?
How much bigger is the current U.S. federal government deficit than the federal deficit from the same period last year?
How many $1.7 billion would you need to have to equal $1.7 trillion?
The U.S. federal government deficit is $1,628,515,019,238 and zero cents. The U.S. federal government has collected $4,346,638,076,844 this year. So how much has the federal government spent this year?
When you add up all the U.S. federal government deficits and subtract the total number of surpluses (when we spend less than we bring in - which almost never happens) then you have the federal debt (see visual explainer below*). The national debt ($37,274,265,917,907 or roughly $37 Trillion) is the total amount of outstanding borrowing by the U.S. Federal Government accumulated over the nation’s history. The current U.S. debt is 37,274,265,917,907 which is updated daily from the Debt to the Penny dataset. Why is the debt so high?
American personal debt is also astronomical. In Federalist No. 51, James “Mad Daddy” Madison writes, “But what is government itself, but the greatest of all reflections on human nature?” Explain the connection between the voters, their personal deficits, and the U.S. federal government deficit.
The budgetary process is complex and requires long negotiations between the Congress and the President. A president proposes an annual budget, but Congress must approve all spending so a president's power over the budget is never absolute. A number of factors control the deficit. Neither the president or congress have control over the mandatory budget which includes Social Security, Medicare benefits, and interest on the debt. Who do you blame for this year’s enormous deficit?
Why do you think checks and balances have not been able to stop the growth of the U.S. debt?
Article I, Section 7, clause 1 of the U.S. Constitution is known as the Origination Clause because it provides that “All Bills for raising Revenue shall originate in the House of Representatives.” The U.S. House of Representatives elected Mike Johnson (R-LA 4th District) as Speaker of the House. Speaker Johnson is a fiscal conservative, meaning that he believes in low taxes, reduced government spending, and minimal government debt. How do you think this new Speaker will impact the budget deficit for the next budget?
The U.S. federal debt is now equal to over $100,000 per citizen. How do you think the U.S. debt will impact your future?
Write and Discuss
Take ten minutes to write about the question at the top of the page and then discuss with your classmates.
Act on your Learning
Contact the White House and let President Donald J. Trump know what you think he should do about the U.S. deficit.
Or call the White House and tell the President I said hi at phone number:
1-202-456-1414 (Switchboard)
1-202-456-1111 (Comments)
Get Creative
If the federal deficit were a food, what would it be?
Learning Extension*
Get Creative
Interview five to ten people (audio, written, or video interviews are all fine) and ask them what they think the debt is. Reveal the actual number and record their reaction. Share a montage of these reactions with your classmates.