Why All the Debt? Essay

1443 Words 6 Pages
Seventeen trillion dollars in debt and growing every day. Continuous tax cuts and drastically increased spending. Turning a blinds eye to our continuous deficient financing, spending more than what we take in. Throwing countless sums of money into foreign country research projects or wastefully spending within the states, having to borrow to make up for the short comings in our budget. The government shutdown and fear of being thrown back into a recession was spread throughout the entire nation. This nation has begun to dig its self a whole that is quickly becoming too deep to crawl out of. Senator John Ensign said it best when he stated that the “United States continues to drown in debt.” President Barrack Obama said that “We …show more content…
Both Japan and China “called for a quick resolution to the crisis.” The two countries also expressed concerns on the “economic consequences” if a default, failure to make payments on the nation debt, were to happen. Economists began to strengthen the voices of the foreign countries by making nose with in the national borders. Some economists began to run reports on how the default would hit America and the domino effect that would surly follow after. Beliefs that the world would be greatly hurt, “investors would likely drop the dollar [and] equity markets would surly take a hit.” Great harm, the economists predicted, for more than just the United States. On September 30th of 2012 it was stated that the national debt increased at an average rate of 2.65 billion dollars daily. It has now been over a year since that number was calculated. The United States government has been too interested “with getting checks out the door and secondarily with spending the money properly.” Even with a nation debt of 17 trillion dollars and daily spending of over 2.65 billion dollars daily the national government still has yet to take any serious actions to prevent the increase in daily spending and the overall debt. One must begin to realize that 2.65 billion dollars is indeed quite a chunk of money. But within a handful of years 2.65 billion will not even come close to the average daily spending if one does not being to demand the nation government get a handle on their

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