Introduction
Ever since the late 1700’s, because of the American Revolutionary War, America has been burdened with the looming national debt that it's acquired. National debt is when a country does not have enough money for anything consequential, and therefor it borrows money from another country. America has acquired an immense amount of national debt and it cannot keep up with the interest that it's required to pay, and due to this, America is thrown further into its national debt crisis. The real question is how will the American government react to its never ending national debt issue, and how will it prevail against this lingering interest problem. Although It's not the governments fault entirely, it's part of the American citizens own fault for being in this increasing crisis. First Body …show more content…
Most of the national debt that America has accumulated is not from foreign nations like many people believe, but is actually from social programs for nonworking citizens in America. Even though social programs contribute the most of Americas accumulated debt, the constant abuse of credit card usage has also been a big problem for America. According to Romina Boccia, a leading fiscal and economic expert, for America to pay off its current debt, it would cost more than 58,000 dollars per person, including children, in America. Boccia says that the leading causes of America’s national debt is social security, Medicare, Medicaid, and even the famous and “most beneficial” Obama
Ever since the late 1700’s, because of the American Revolutionary War, America has been burdened with the looming national debt that it's acquired. National debt is when a country does not have enough money for anything consequential, and therefor it borrows money from another country. America has acquired an immense amount of national debt and it cannot keep up with the interest that it's required to pay, and due to this, America is thrown further into its national debt crisis. The real question is how will the American government react to its never ending national debt issue, and how will it prevail against this lingering interest problem. Although It's not the governments fault entirely, it's part of the American citizens own fault for being in this increasing crisis. First Body …show more content…
Most of the national debt that America has accumulated is not from foreign nations like many people believe, but is actually from social programs for nonworking citizens in America. Even though social programs contribute the most of Americas accumulated debt, the constant abuse of credit card usage has also been a big problem for America. According to Romina Boccia, a leading fiscal and economic expert, for America to pay off its current debt, it would cost more than 58,000 dollars per person, including children, in America. Boccia says that the leading causes of America’s national debt is social security, Medicare, Medicaid, and even the famous and “most beneficial” Obama