AP Gov National Debt

Slide: 1
Hey, Craig. I was reading the news earlier, and I heard about the record levels of national debt currently, at around $33 trillion. Can you give me some historical background on this issue, and why it is so high today?
Sure, Jason. It is a complex story that is caused by many economic, historical, and political factors, and its full story cannot be covered in one take. I'll try my best to summarize it.
Slide: 2
Long story short, the national debt is so high now since the economic downturn caused by the Pandemic increased governmental borrowing to fund stimulus packages and relief measures. In addition, the amount borrowed from the 2008 recession has increased incrementally.
Oh, now I understand. Economic recessions lead to increased borrowing in tough times, and it is tough to pay off this debt, causing it to increase.
Slide: 3
What are the specific consequences of this high national debt, and how can it be resolved?
The high national debt leads to an increased cost of living through higher interest rates and increased inflation, likely raising the poverty rate. To help alleviate the national debt, taxes can slightly be increased, defense spending could significantly be cut, and money should be invested into campaigns that inform the public about national debt.

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