Borrowing and the Federal Debt

The National Priorities Project was nominated for a Nobel Peace Prize in 2014 and currently focuses on taxes, the national debt, and government transparency.

First, information from a second source with links.

“Government Budget in the United States averaged -3.02 percent of GDP from 1948 until 2015, reaching an all time high of 4.60 percent of GDP in 1948 and a record low of -12.10 percent of GDP in 2009.” – TRADING ECONOMICS quote from their page United States Government Budget 

Now back to the NPP; this article discusses the basics to understanding the federal debt.

A few overview points are as follows though the article is an excellent resource for much more information and explanation.

  • Tax cuts in 2001 and 2003 contributing impact to deficits
  • Total federal debt listed in article as of 4 June 2015: $18.153T
  • Foreign investment in U.S. Treasury Bonds
    • China $1.3T
    • Japan $1.2T
    • Brazil $262B
    • oil exporting nations $297B
    • Caribbean banking centers $293B

The entire article and links to several others for research or study can be found through the link below.

Borrowing and the Federal Debt: Federal Budget 101

By National Priorities Project (NPP)

A Blogger’s “Lazy” approach to (not quite) defending Economics as a Science

A concise critique on Joris Luyendijk, previous writer for the Guardian, and his article Don’t let the Nobel prize fool you. Economics is not a science.  The critique focuses on particular sections of the Luyendijk’s article and challenges him to bring more than just editorial perspective.  What I enjoy about this article is that it appears Smith successfully brings more in the challenge and with seemingly less effort than Luyendijk.  The article is from his blog Noahpinion.

Lazy econ critiques

by Noah Smith

Angus Deaton, Nobel prize winner for economic sciences

Short article on Nobel prize winners 2015 with initial focus on Angus Deaton, economic sciences, and “his analysis of consumption, poverty, and welfare.”

Britain’s Angus Deaton wins Nobel economics prize

by Staff at The Canadian Press