National debt?
Problem
Side Score: 3
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Hysteria
Side Score: 2
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1
point
It is approximately 100% of GDP. As spending increases, this creates a problem because it is possible that the U.S. government could default, in which case interest rates would increase, and as an overall effect the economy will be negatively impacted to a significant extent. Side: Problem
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1
point
The New York Times says that it is a scare tactic. http://www.nytimes.com/2010/02/05/ Side: Hysteria
It's a problem, but people blow it way out proportion. The problem is that people tend to relate to it on a personal level. "If I were $12 trillion in debt, my life would be over." But when you consider that our annual GDP is $14 trillion, you see that our debt levels aren't all that bad. We're basically like a recent graduate with substantial student loans to pay off. Of course that doesn't mean that we can sustain this problem of liberals refusing to cut entitlements while conservatives refuse to cut military spending or raise taxes. Side: Hysteria
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