The above video discusses the origin of the national debt, how spending priorities have changed and why excessive federal debt is a concern. In the early 20th century, federal spending focused on defense and education, while today much of the budget goes to social security and health care, with the threat of rising interest payments lingering. The video continues by outlining mandatory versus discretionary spending, the imbalance in health care spending for treatments versus prevention, the economic situation facing young adults and the current political climate.
Do You Understand Why the National Debt Defines the Future for Millennials? was created by 20 graduate students in multiple disciplines across the University of Virginia in a cross-disciplinary seminar led by Professor Mary Margaret Frank, academic director of Darden’s Institute for Business in Society. Frank was awarded the Aspen Institute Faculty Pioneer Award for her innovative work teaching business school graduates how government and business can work together to solve problems and create opportunities.