1.
Let’s balance the budget

2.
3 big risks
• Social Security and Medicare for boomers will
bust the federal budget wide open
• The country’s colossal debt and all t he
borrowing needed to handle it begin to drag
the economy down
• People holding billons of dollars in the U.S.
debt will suddenly decide to put their money
elsewhere

3.
What did government spend?
• Medicare (12% of the federal budget)
• FEMA (floods, hurricanes, and other disasters)
• Social Security
• Defend budget
– The war in Iraq (between 2001-2010 --$706 billion on
Iraq and $1.1 trillion if adding Afghanistan)
• Foreign aid
• Bail out Wall Street and Detroit ($700 billion)
• Roll back to bush cut taxes won’t solve the deficit
problem

4.
Coming issue
• Baby-boomer generation (people who were
born during post world war II—1946-1964) is
starting to retire

5.
To reduce a debt
• Cut back a government spending
• Change the way social security and medicare
work
• Raise taxes

6.
Fact