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What is Happening to The US Fiscal Deficit and National Debt ?

Group 2Chih-Mei Shen&Nancy Briana Lpez HodgsonUnited States GDP v.s. Government debt

DefinitionFISCAL DEFICIT: When a government's total expenditures exceed the revenue that it generates (excluding money from borrowings). Deficit differs from debt, which is an accumulation of yearly deficits.debt: In the United States, government debt refers to federal debt held by individuals, corporations, state or local governments, foreign governments, and other entities outside of the United States Government less Federal Financing Bank securities.

3Debt v.s Budget

44What happened in 2008~20135Financial crisis in 2008Severe drop in economic activityStimulate policy: QE(Quantitative easing)Outcome : sharply reduced federal revenues and increased spending2014~2016

6 Treasury Department figures released showed: Income-tax revenue from individuals is up about 12 percent, while receipts from companies are up 8.7 percentHoweveraging of the population and rising health care costsinterest rates 78

What would it happen after 2016ConclusionSpending cutRevenue increasingDO IT QUICKLY9