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Students surprised to discover that some owe $323,051 in national debt

Students surprised to discover that some owe $323,051 in national debt

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“$10 million?” some might say. Others might throw out numbers like, “100 million dollars?” But really, those figures sound way too low. I mean, surely it’s more along the lines of billions, right? “Yeah, maybe at least $50 billion. Or $100 billion,” someone quips. The back-and-forth goes on. “So?” “Perhaps,” someone hesitates. But then, someone else finally insists, “No, it has to be like a trillion dollars.”

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A trillion dollars? That hardly seems substantial in this context. I recently had a lively discussion with high school seniors about U.S. budgeting and national debt. When I posed the question, “How much do you think we owe?” the range of responses was amusing yet disheartening—millions, billions, and eventually even a trillion. Finally, I couldn’t keep my mouth shut anymore. It felt like I was handing Snow White a poisoned apple as I disclosed the actual figure: “37 trillion dollars.” The room fell silent.

Understanding the Invisible Burden of Government Debt

I decided to walk around, waving my hands to keep their attention while thanking them for their input. They seemed puzzled. Finally, a student spoke up, “Why are you thanking us?” I responded, “Because you’ll be the ones paying for it.” That landed like a lead balloon in the room.

Many had heard about government spending and debt, but I think that’s when it clicked for them just how these numbers personally affected their lives. Some expressed concerns over student loans, not realizing the broader debts they were inheriting. I pointed to a website displaying national debt statistics. After some searching, they found the section showing the debt per citizen—$108,010 for my three-year-old granddaughter.

Concern for “debt per taxpayer” quickly surfaced, showing a staggering $323,051. “Look at that debt tracker. What does it tell you?” I asked. After a bit of silence, I directed their gaze to the interest on the debt, which was over a trillion dollars annually.

Student Perspectives on Debt Solutions

Amused, one student asked, “Why not just print more money?” It sparked a discussion about hyperinflation and how desperate times in history have led to absurdities like needing wheelbarrows full of cash for basic necessities.

I mentioned a satirical news segment from years back that humorously suggested a fake coup to clear all government debt. Some students chuckled, recalling just how outrageous that sounded. Yet, was their apprehension justified? In hindsight, they realized the debt had only been $10 trillion back then.

They began pondering how we, as adults, allowed such a burden to accumulate. I outlined some contributing factors:

  • The expensive cost of Medicaid
  • Massive spending on wars
  • Our military budget soaring above that of the next nine countries combined

Then, I threw out a relatable scenario: “Have you ever seen your parents argue over buying something?” A few hands shot up. One student recalled a dispute over a new fridge. “What happened?” I prompted. “They bought it,” she mentioned, “but I think they charged it.” In that moment, it felt like I had drawn a parallel to our national spending habits.

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