| Description |
The national debt, and related government spending, of the United States is a dangerous, growing problem. A mix of unaccountable decision makers and uninformed public allow the perpetuation of this important issue. Finance and accounting professors have the unique opportunity and background to educate students on the problems associated with federal spending and the national debt. Education is likely to lead to greater action by the public and may help create the appropriate environment for decision makers to act before we experience severe economic consequences. This paper reports the results of a survey administered to faculty in accounting and finance departments at AACSB accredited universities, which found that many professors do not include such content based on assumed relevancy. I argue that bolstering higher education is a more simple solution to the ever growing problem as it: allows students to identify and personalize the problem of the growing debt; strengthen the background of those students going into careers where the public places high trust in their understanding of finances; and help make these students deliver assistance more easily within their positions; and finally, become more informed voters. I offer pedagogical resources that will help faculty incorporate government spending topics, summarized in a list of recommendations, which were decided based on the general public's (mis)understanding of government spending, as well as survey results from the faculty surveyed. |
