zishani3

Gould, Hilarey, and Kimberly Amadeo. “How Did the U.S. National Debt Get So Big?” The Balance, The Balance, 4 Oct. 2022, https://www.thebalancemoney.com/the-u-s-debt-and-how-it-got-so-big-3305778. 

Direct Quote: “The U.S. debt is the sum of all outstanding debt owed by the federal government. On Feb. 1, 2022, it surpassed $30 trillion for the first time, and soon after it set another record on Oct. 4, 2022 by passing the $31 trillion mark.¹ The U.S. Treasury Department tracks the current total public debt outstanding and this figure changes daily. The debt clock in New York also tracks it. The majority of the national debt is debt held by the public.¹ The government owes it to buyers of U.S. Treasury notes including individuals, companies, and foreign governments. The remaining portion is intragovernmental debt. The Treasury owes this debt to its various departments that hold Government Account Series securities. The biggest owner is the Social Security Trust Fund. These Government Account Series securities have been running surpluses for years, and the federal government uses these surpluses to pay for other departments. They will come due as people born from 1946 to 1964 retire over the next two decades”.

Summary/My interpretation: The US federal debt is a measurement of the total amount of money owed by the treasury department to the different actors who have been involved with the nation. The vast majority of this figure comes from debt that the government has amassed with the public sector, including citizens, businesses, and other nations. Additionally, the treasury also has accumulated debt with the other sectors of the government as it has sold them Government Account Series (a form of federal loan that can’t be sold in a secondary market).  

How I will use this in my project:  One of the biggest barriers to being able to predict the federal debts affects on the middle class is first understanding what exactly the debt is. Oftentimes, the average person will think that the US’ debt is only to other nations when in reality a large portion of the deficit comes from domestic sources. I hope to use this article as a way to better explain the debt to my audience and provide valuable background knowledge before starting to explore the deficits effects more closely.

• By looking at the tube, our group knows that the end goal for this activity is to assemble a puzzle
• Methodology
  • The first step that we will take is to divide the pieces among the group members.
  • From there we will sort through our respective piles and remove all edge and corner pieces
  • We will then assemble the border and slowly work towards the middle of the puzzle

How this relates to my project: As a whole, this activity taught me how to work in small steps in order to achieve an end goal. More specifically, throughout this activity our team knew what the final product was supposed to look like but needed to divide the task into smaller more manageable steps.

Advice for presentations:

• Face the audience while speaking
• Have most of your presentation memorized
• Use engaging body language
• Have visuals
• Use multiple tones
• Talk loudly and clearly

Takeaways from video

• Make your ideas worth sharing
• Try to illustrate to your audience how you see an idea
• Challenge your audience’s world view

The US federal debt has been a growing issue that has recently come to the forefront of the public eye. Experts now fear that the debt has reached a level at which the US government can not effectively contain its growth. More specifically, many people believe that the US will ultimately have to default on these loans. This is problematic for several reasons. Since the US will have to amass resources to fight the deficit, they will likely need to cut key social programs. This will lead to the elimination of vital services such as social security and Medicare. Additionally, to raise money the US will likely place a tax on its citizens, leading to an overall decline in average income. Finally, as the debt continues to rise, it will lead to higher interest rates. This will discourage investment in the private sector and ultimately lead to less economic growth.

How to use GPT in writing: As a whole I think there is a fine line that exists between acceptable and unacceptable use of ChatGPT. Since GPT has such a large database of information, I think it should be allowed to help people generate ideas. By plugging in one’s topic of research, a person could gain a strong baseline of information from what the AI responds with. However, I think use becomes unacceptable once a person starts copying the AI’s work directly.

Reimagined logline: A group of chess grandmasters skirt US regulations and illegally sell fossil fuels to help expand the transportation industry, leading to a climate catastrophe.

One thing that our group believes is true of the world: Climate change is an extinction level threat that needs to be solved.

Written in opposing views:

• The earth goes through natural phases of heating and cooling meaning we don’t have enough information to evaluate how serious climate change is.
• The climate has shown an ability to heal itself, meaning we do not need to take immediate action
• It is more important for people to be focusing on improving nations economies/raising the quality of life instead of solving climate change
  • How Many Live On Less Than $1 A Day? – CLJ (communityliteracy.org)
  • UN Report: Global hunger numbers rose to as many as 828 million in 2021 (who.int)
  • Benefits of economic growth – Economics Help

How Will I Use This in My Project: As a whole this activity challenged me to look at something I believed is completely true in a new way. I was forced to challenge my beliefs and really consider how other people may approach the issue at hand. I will use what I learned in my project by considering how the other side my view this issue.