Former Republican congressman Joe DioGuardi of New York was the first certified public accountant elected to congress.

1. The National Debt:
Mortgaging Our Future

2. What is the national Debt?
National Debt:
the money borrowed by
the federal government
of the United States
through the issuing of
securities by the
Treasury and other
federal government
agencies. Consists of
debt held by the public
and intragovernmental
debt.

3. U.S. Fiscal Policy
$3.67 Trillion

4. Financial statements of the u.s.a.

5. Entitlement liabilities
• “Amounts equal estimated present value of projected revenues and
expenditures for scheduled benefits over the next 75 years of certain
„Social Insurance‟ programs (Social Security, Medicare Parts A, B, & D,
Railroad Retirement).”

6. Interest on the national debt
• Cost of Net Interest on
U.S. National Debt to
Surpass Defense
Spending by 2017
• Cost of Net Interest on U.S.
National Debt to Surpass $915
Billion by 2022

7. Infrastructure
• A Crumbling U.S.
National
Infrastructure
• America Has No
Infrastructure Plan
& No Way to Pay
For It
• A Capital Budget
To Save America

8. Unsustainability of federal
programs

9. State & local governments

10. States Dependent on the
Federal Government

11. AmericA’s FiscAl unsustAinAbility

12. Major holders of u.s.
treasuries

13. GDP Projections By Country 1990-2030

14. America 2022
Total U.S. National Debt (Bonded): Approximately $25 Trillion
Net Interest on U.S. National Debt: Approximately $915 Billion

15. what is needed in America
1. An Honest Discussion About the Unsustainability
of Our National Debt and Deficits.
2. An Open Debate About the Size and Role of Our
Federal Government, Now and in the Future.
3. A Realization that America‟s Long-Term Fiscal
Sustainability Cannot Be Subject to the Politics of
the Next Election Cycle.
4. An Understanding that in Order to Solve the
Long-Term Fiscal Crisis of Our National Debt,
Shared Sacrifices Must Be Made by the American
People.

16. Bibliography
• Slide 2 – “Federal debt basics – How large is the federal debt?”. Government Accountability Office.
Retrieved March 6, 2013.
• Slide 3 – nationalpriorities.org – Source: OMB. Retrieved March 6, 2013.
• Slide 4 – US Treasury Department. Fiscal Year 2012: Financial Report of the United States
Government. “A Citizen’s Guide” p. viii.
• Slide 5 - US Treasury Department. Fiscal Year 2012: Financial Report of the United States
Government. p. 19.
• Slide 6 – money.cnn.com – Source: CBO , 2012 – Retrieved March 6, 2013.
• Slide 6 – Geo-graphics - http://blogs.cfr.org/geographics/2009/10/26/interest-expense/ - Source:
CBO – Retrieved March 6, 2013.
• Slide 8 – Peter G. Peterson Foundation - http://www.pgpf.org/Chart-Archive/0027_entitlement-
programs-proj.aspx - Source: CBO. Retrieved March 6, 2013.
• Slide 9 – Pelican Post - http://www.thepelicanpost.org/2011/03/29/a-first-in-american-history-2011-
federal-aid-set-to-overwhelm-state-general-funds/ - Cato Institute – Wyoming Liberty Group –
Retrieved March 6, 2013.
• Slide 10 – Edward Mazur. “Why State and Local Government Leaders Should Read and Heed the
Financial Report of the U.S. Government. Newport News. September 1, 2010.
• Slide 11 – Comeback America Initiative. March 25, 2011.
http://5minforecast.argorafinancial.com/were-number-28/
• Slide 12 – mygovcost.org - http://www.mygovcost.org/wp-content/uploads/2012/09/summer-2012-
to-whom-does-the-us-government-owe-money - Source: US Treasury Department - June 2012.
• Slide 13 – World Gross Domestic Product by Region – 1990-2030 -
http://rainforests.mongabay.com/energy/gdp.html
• Slide 14 – Statista - http://www.statista.com/statistics/216998/forecast-of-the-federal-debt-of-the-
united-states/ - Source: CBO, 2012 – Retrieved March 6, 2013.