Presidency after presidency our national debt continues to soar to unprecedented levels. Does anyone seem to care? As political candidates debate popular issues, it seems they often overlook the money hole the United State has dug itself into. This goes unopposed because they promise new government programs and generous tax cuts. Where does this money come from? Can anyone look beyond the present and peer into the future?
The current national debt is well over $9 trillion. That's a 9 with 12 zeros after it. Just imagine. To better put this number into perspective, if split equally, each U.S. citizen would represent over $30,000. Each day the government's deficit grows by $1.3 billion. I only wish the government would let me spend like this. A plasma screen and brand new Ferrari would hardly put a dent in my budget. With this same attitude the government continually pours money into program after program, recklessly disregarding any consequences.
Our economy is in a drastic downward spiral and the last thing Americans need is to face high inflation. Unfortunately this outcome is inevitable as our debt reaches new heights. We all remember our parents saying that Coke used to cost a nickel or a gallon of gas was well under a dollar. This increase is now occurring faster than ever. In my short twenty-year lifetime, I have seen many product prices double in value. Gas alone has skyrocketed from $1.60 when I started driving to an astonishing $4.00 today.
Someone needs to put a stop to our ridiculous deficit spending. Turning our course around will take many years, but it must begin somewhere. It's time that citizens overlook enticing programs or compelling tax breaks. We must show some concern for our nation's future.
3 comments:
Money and national spending is one of my biggest peeves today. I agree that spending has gotten completely out of hand. There are many worldly problems that are much greater than ours, and I feel if we were the country we say we are, then this money would be used in more efficient and supportive manners. Our country has more food production than any other country in the world, and we are literally the largest population, yet we can't afford to send it to areas that NEED it because of our own selfish values. We are spending money we do not have on wars that do not even have a reason to be fought anymore. Deep down, this nation is a strong and very powerful being who knows what it is doing, but like most things today, give sugar to ants and they multiply to annoying and damaging levels.
I agree. It makes me sick to think of all this money being spent and not everyone REALLY sees it put to use in a personal matter. Major programs that go into effect should benefit more than half of the population and those programs that benefit minority groups should be scaled down and sized to fit a minority group. There should not be any program that spends billions of dollars to please a small amount of people unless it is without a doubt necessary in every way for these particular people’s livelihood. I figure there are people who work in our government who get paid the big bucks to critically analyze this astronomical budget but maybe they should hire some debt consolidators or cut throat analyzers who know how to keep what is needed and do away with what is not needed.
The inflation and the increasing national debt of the United States do not seem to get better anytime soon. How are citizens of the U.S. supposed to get out of debt themselves when inflation continues to climb? The stimulus checks they sent out were supposed to stimulate the economy. I guess when people turn around and spend their stimulus check on bills and other debts that might stimulate the economy. I really do not know how that is supposed to help. On top of that, most college students, children, and people who do not make much annually received a $300 check while other citizens who make more money annually received up to or possibly more than $1,200 stimulus check. We live in a country where the poor get poorer and the rich get richer and there is an increasing divide between the two groups.
I do not know what needs to be done to change this current situation but something needs to happen. There are geniuses all over the world who are thinking of possible ways to cure cancer and AIDS. Surely there is a way to lessen the national debt and make inflation deflate!
I agree with you that our national debt is out of control and that action needs to be taken very quickly. Since Reagan’s presidency the nation’s debt has been skyrocketing. The upward trend slowed some due to the Clinton Administration but has increased at an alarming rate since Bush came into office. The money the government spends comes from our taxes and when that’s not enough they borrow money from the people through savings bonds and such, praying that everyone doesn’t decide to cash in at once. Americans are in debt, mostly, to the government and the American government is in debt, mostly, to Americans. Can anyone say nightmare?
I agree that the government should stop spending (wasting) so much money on nationwide programs but I disagree on the tax cut issue. Our taxes are outrageous, period. When taxes get to be so high it discourages Americans from working hard because they don’t get to keep any of their money. Poor people already don’t contribute that much to the economy, and when middle class Americans are being taxed anywhere from a fourth to a third of their income, they don’t contribute much to the economy either. Lowering taxes makes people work harder and produce more EVERY time. The government would actually be getting the same amount of money. Lets say John Smith makes $100,000 a year and is in the 28% tax bracket. If his taxes were lowered to 25% he would work harder knowing he’ll get to keep 3% more of his money and may make $112,000 the next year. The government still gets $28,000 and John Smith keeps more of his hard earned money. He has an extra $12,000 in his budget to promote the American economy! Magical, I know.
As for national government programs, that’s not what the government is for. The government’s purpose is to protect, and defend its people, to regulate commerce, and to secure individual rights guaranteed to us by the Constitution. I think that specific programs should be made and funded by the state and local governments, to personalize them. The national government should especially steer clear of education and health programs. Its not that their help isn’t appreciated, its that it shouldn’t be their responsibility. They need to let the people take care of themselves to create a nation with strength not a bunch of dependent, lethargic citizens.
Our debt can be corrected, but it has to start with Americans realizing that deficit spending is STUPID. We’ve been made to think its o.k. to the point where we are completely desensitized to the damage that credit cards, and loans, and advances on paychecks create. Yes these things are certainly necessary at times and very convenient but in small amounts, please. To be in debt is to lose one’s freedom!
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