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10 Minutes to Understanding Our Nation’s Fiscal Health

If you’ve watched the news, picked up a paper (or read one on your electronic device) or listened to the radio in the past year, you’ve probably heard about America’s debt, its bond rating and political gridlock.

Instead of telling you what fiscal challenges our country is facing, I think it’s better if you understand them for yourself. Today, I’m encouraging each of you to spend a few minutes taking a short quiz that will test how well you understand the financial matters being discussed in Washington, D.C.

The quiz is part of the Comeback America Initiative, which was founded by former U.S. Comptroller General, David Walker, CPA.

As in any discussion of our country's fiscal situation and the path forward, one’s own political perspective can come into play in the reading of the questions and the answers. The important part is some of the basic facts. My observation of David's work and the initiative’s leadership is that they are focused on the need for bipartisan solutions, cooperation and compromise to find solutions for the future.

The quiz takes just 10 minutes and is well worth the time; I know because I’ve already done it. As Americans, we can only engage in meaningful dialogue if we understand the entire scope of the topics we’re discussing. Understanding the financial health of our country is a critical step in working toward a better future. This quiz is a great way to get more Americans up to speed so they can engage in the financial discourse. 

Barry C. Melancon, CPA, President and CEO, American Institute of CPAs.

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