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US government spending, the national debt, and the role of accounting educators

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  • Allen, Robert D.

Abstract

This article discusses the facts associated with US government deficits and the national debt. The growing problem of government debt is unsustainable and timely action is needed to avert serious economic problems in the future. While the current picture and forecast in the future are sobering, positive change that will restore fiscal balance is possible. Government spending and national debt are significant societal problems and the solutions can be facilitated by objective, non-partisan expertise from financial professionals such as accounting educators. We have an opportunity and responsibility to educate our students and others about the significance of our nation’s financial problems. The article also encourages accounting educators to be more active in researching and discussing these issues in a broader public context. Having faculty focus on federal spending in their teaching and research is consistent with recommendations by the Pathways Commission that encourage accounting faculty to focus on issues that matter to the profession and to society. The article suggests alternative methods for sharing the issues with various student audiences.

Suggested Citation

  • Allen, Robert D., 2013. "US government spending, the national debt, and the role of accounting educators," Journal of Accounting Education, Elsevier, vol. 31(3), pages 215-231.
    • Handle: RePEc:eee:joaced:v:31:y:2013:i:3:p:215-231
    DOI: 10.1016/j.jaccedu.2013.06.006
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    References listed on IDEAS

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    1. Mr. Carlo Cottarelli & José Vinãls, 2009. "A Strategy for Renormalizing Fiscal and Monetary Policies in Advanced Economies," IMF Staff Position Notes 2009/022, International Monetary Fund.
    2. Carlo Cottarelli & José Vinãls, 2009. "A Strategy for Renormalizing Fiscal and Monetary Policies in Advanced Economies," IMF Staff Position Notes 2009/22, International Monetary Fund.
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    Cited by:

    1. Zhang, Ailian & Pan, Mengmeng & Liu, Bai & Cao, Xianbin, 2023. "Do high-speed rail (HSR) station and airport affect local government debt risk? Evidence from China," Transport Policy, Elsevier, vol. 134(C), pages 41-51.
    2. Tran, My Thi Ha, 2021. "Public Sector Management And Corruption In Asean Plus Six," OSF Preprints stxw4, Center for Open Science.
    3. Apostolou, Barbara & Dorminey, Jack W. & Hassell, John M. & Rebele, James E., 2015. "Accounting education literature review (2013–2014)," Journal of Accounting Education, Elsevier, vol. 33(2), pages 69-127.

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