National Debt :: Argumentative Economy Economics Papers

National DebtHow large are we going to allow the national debt to become? If we believe that it never comes due(p) then itssize is of little concern. However, that belief is like that of the ostrech bury your direct in the sand soyou can not see the task and the problem goes away.The fact is that the size of the debt is nearly five trillion dollars and grows by an average of 620 milliondollars every day The cause is that every category the government spendsmore than it collects in taxes. The government makes up the difference by borrowing billions of dollars annually, competing against private enterprise for theuse of money saved by American citizens. That money should be used for investments to improve our standardof support and create a brighter future. Instead, our savings are being used by the government to pay for todays consumption, for special interests and for the interest on money borrowed in earlier years. At the present rate of growth the interest requit al will eventually be greater than the current debt. Can we put up with this? Are there enough creditors to support such an enormous meat? What will happen to our future, our childerns future? We are spending it for them now forwards they have a say about it. Surely thistrend of deficit spending is leading us to national bankruptcy. A new insurance geared toward a zero deficit must be adopted. This doer that we must change the way we view spending on the entitlement programs, defensive measure anddomestic discretionary programs. Between 1980 and 1990 the national debt quadrupled from 800 million to 5 trillion. The current trend of spend every cent we can get our reach on and borrow the rest by mortgaging ourfuture must be stopped. The fact that past investment in government bonds was sound and obtain does not predict that the future will remain the same. How can