David Walker, former U.S. Comptroller General, concluded that our current standard of living is what?
Follow the following link to view the 30 minute documentary and fill in the worksheet
(there is also a full version on YouTube, if you prefer).
1. David Walker, former U.S. Comptroller General, concluded that our current standard
of living is what?
2. At the time of this documentary being filmed (2007); the U.S. Federal debt was what?
……and is currently what? (www.usdebtclock.org)
3. Total unfunded future obligations (promises made by U.S. Government; liabilities)
tops how much?
4. According to David Walker and the Pete Peterson Foundation, there are 4 deficits
currently facing the U.S.
a.
b.
c.
d.
5. The Federal Reserve was created in what year and for what purpose?
6. During World War II, the U.S. GDP to national debt ratio reached what?
7. Robert Rubin held what position in the U.S. government and through what years?
8. The annual Social Security surpluses over the past years have been used for what?
9. Social Security is projected to begin to run a deficit in what year?
10. The last years the U.S. had a negative savings rate were what?
11. In 2007, what country had the largest trade deficit in the world?
12. Top U.S. trade deficits in 2007 were to which countries/areas of the world?
a.
b.
c.
d.
e.
13. The percent of foreign held debt in 2007 was what?
14. (Use your economic intuition, the answer is not in the documentary.) With the recent
bailouts in the U.S., what do you suppose has happened to the percentage of U.S. debt
held by foreign countries?
15. What 3 major factors have caused the U.S. to rely on foreign countries to finance our
growing deficits?
a.
b.
c.
16. Medicare parts A, B, and D alone will contribute how much to the debt obligations of
the future?
17. Our debt to GDP ratio is projected to be what in 2040 if current policies are kept in
place?
18. If all earmarks, Bush tax cuts, and the war in Iraq were to end it would only impact
our expected debt by what percent?
19. What did you find the most shocking in this mini-version of IOUSA?
20. Do you think Americans would vote for politicians educated about this very real
issue and speak honestly regarding policy changes (reduced benefits and tax increases) to
prevent a U.S. financial meltdown in your adult life?