Understanding the National Debt

At LDS Business College, a whole classroom size of students showed up to discuss the national debt. We had two guest speakers–Professor Lowrance, a personal finance professor and Professor Wilson, a business professor. We also had students from the school’s Financial Independence Club participate.

Professor Lowrance overviewed current government spending, the history of government spending, and how the government’s increased control over spending and lending money has created the catastrophe of our current national debt. Professor Wilson also warned us against the dangers of personal debt and how we can help boost the economy by saving.

Everyone in the meeting was well-informed on the facts and the serious nature of the national debt issue. The students were able to guide the conversation and we discovered that there is a lot we can do to warn others of this issue and advocate to take steps that will help eliminate debt.

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