{"id":313,"date":"2024-12-27T19:06:34","date_gmt":"2024-12-27T19:06:34","guid":{"rendered":"https:\/\/blogarchive.utc.edu\/crer\/?p=313"},"modified":"2024-12-30T19:23:28","modified_gmt":"2024-12-30T19:23:28","slug":"12-27-24-what-a-more-than-35-trillion-national-debt-could-mean-for-chattanoogans","status":"publish","type":"post","link":"https:\/\/blogarchive.utc.edu\/crer\/2024\/12\/27\/12-27-24-what-a-more-than-35-trillion-national-debt-could-mean-for-chattanoogans\/","title":{"rendered":"12\/27\/24: What a More Than $35 Trillion National Debt Could Mean for Chattanoogans"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"539\" height=\"501\" src=\"https:\/\/blogarchive.utc.edu\/crer\/files\/2024\/12\/Screenshot-2024-12-30-141841.png\" alt=\"\" class=\"wp-image-314\" style=\"width:318px;height:auto\" \/><\/figure><\/div>\n\n\n<p>CRER director and chief economist <a href=\"https:\/\/www.utc.edu\/gary-w-rollins-college-of-business\/crer\/people#HowardJWallDirectorandChiefEconomist\">Howard Wall<\/a> and <a href=\"https:\/\/www.utc.edu\/gary-w-rollins-college-of-business\/probasco-chair\">Scott L. Probasco Distinguished Chair of Free Enterprise <\/a><a href=\"https:\/\/www.linkedin.com\/in\/ACoAAAKUqFYBtD5CkVuhroGJJDvE-76GDM3_O_0\"><\/a><a href=\"https:\/\/www.utc.edu\/gary-w-rollins-college-of-business\/probasco-chair\">Claudia Williamson Kramer<\/a> provide their perspectives on the Federal debt.<\/p>\n\n\n\n<p><em>&#8220;In World War II, we borrowed a lot of money to finance buying weapons and arming the world to fight Nazis and Japan,&#8221; Howard Wall, chief economist at the University of Tennessee at Chattanooga, said in a phone call. &#8220;Now, we&#8217;re borrowing money and just handing it over to ourselves to spend.&#8221;<\/em><\/p>\n\n\n\n<p><em>Recent estimates indicate about 10 cents of every dollar collected in taxes are going toward paying down the nation&#8217;s debt, Kramer said. That&#8217;s money that won&#8217;t be invested in infrastructure, education or funding programs like Social Security, Medicare or Medicaid. Taken together, the debt exceeded the country&#8217;s average gross domestic product of about $29 trillion in 2024.<\/em>\u00a0<\/p>\n\n\n\n<p><a href=\"https:\/\/www.timesfreepress.com\/news\/2024\/dec\/27\/what-a-more-than-35-trillion-national-debt-could\/?utm_medium=social&amp;utm_source=linkedin_\">Read the whole article here.<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CRER director and chief economist Howard Wall and Scott L. Probasco Distinguished Chair of Free Enterprise Claudia Williamson Kramer provide their perspectives on the Federal debt. &#8220;In World War II, we borrowed a lot of money to finance buying weapons and arming the world to fight Nazis and Japan,&#8221; Howard Wall, chief economist at the&hellip; <\/p>\n<p class=\"more-link-wrap\"><span><a class=\"more-link button text\" href=\"https:\/\/blogarchive.utc.edu\/crer\/2024\/12\/27\/12-27-24-what-a-more-than-35-trillion-national-debt-could-mean-for-chattanoogans\/\"><span>Continue Reading <\/span><\/a><\/span><\/p>\n","protected":false},"author":2009,"featured_media":314,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-313","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-media","8":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>12\/27\/24: What a More Than $35 Trillion National Debt Could Mean for Chattanoogans - Center for Regional Economic Research Archive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogarchive.utc.edu\/crer\/2024\/12\/27\/12-27-24-what-a-more-than-35-trillion-national-debt-could-mean-for-chattanoogans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"12\/27\/24: What a More Than $35 Trillion National Debt Could Mean for Chattanoogans - Center for Regional Economic Research Archive\" \/>\n<meta property=\"og:description\" content=\"CRER director and chief economist Howard Wall and Scott L. Probasco Distinguished Chair of Free Enterprise Claudia Williamson Kramer provide their perspectives on the Federal debt. &#8220;In World War II, we borrowed a lot of money to finance buying weapons and arming the world to fight Nazis and Japan,&#8221; Howard Wall, chief economist at the&hellip; Continue Reading\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blogarchive.utc.edu\/crer\/2024\/12\/27\/12-27-24-what-a-more-than-35-trillion-national-debt-could-mean-for-chattanoogans\/\" \/>\n<meta property=\"og:site_name\" content=\"Center for Regional Economic Research Archive\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-27T19:06:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-30T19:23:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blogarchive.utc.edu\/crer\/files\/2024\/12\/Screenshot-2024-12-30-141841.png\" \/>\n\t<meta property=\"og:image:width\" content=\"539\" \/>\n\t<meta property=\"og:image:height\" content=\"501\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Howard Wall\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Howard Wall\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blogarchive.utc.edu\/crer\/2024\/12\/27\/12-27-24-what-a-more-than-35-trillion-national-debt-could-mean-for-chattanoogans\/\",\"url\":\"https:\/\/blogarchive.utc.edu\/crer\/2024\/12\/27\/12-27-24-what-a-more-than-35-trillion-national-debt-could-mean-for-chattanoogans\/\",\"name\":\"12\/27\/24: What a More Than $35 Trillion National Debt Could Mean for Chattanoogans - 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