20 Trillion Club

• What is the national debt?  How much is it?  Is it really a problem?
• How is debt issued?  Who owns it?
• How does national debt affect me?
• What is the relationship between debt and inflation?
• How does the Federal Reserve issue debt without Congress approval?
• What is the Federal Reserve?

Meetings once a Quarter-August, October,  January, May

national debt

• If there was a Balanced Budget Amendment, what would stop Congress from raising taxes to meet budget obligations? 
• If you could stop your total savings from being cut by 50%, would you? 
• What solutions are there?
• What do Harvard and other economists say about the debt?

"Money is not that important, but it ranks about 2nd... right behind Oxygen."

Contact Club leader

Some old #s but try this:

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Now remove 8 zeros and pretend it's a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50

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