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National Debt

Satisfactory Essays
National Debt

The national debt has always been a major concern

of the american public, whether they truely know what it is

all about or not. What most people do know is that the debt

that our country has is continualy growing faster and faster

at an unbelievable rate, toan amount that many of us can not

even imagine. The national debt and it's problem has been an

on going issue in today's headlines, and each president is

faced with this buring problem. President Clinton tried

to install a balanced budget plan during his current

term in office, however it lost 99-1. Althought the

public was not able to vote on this plan directly, we, or

at least I have an opinion concerning the issue.

I personally believe that the fact that our nation

is constantly growing more in debt by the minute is a major

problem. Although that techincally we do not have to

pay it, is not the point. What is the point is that we

are a nation that is in debt. According to reports, since

1981, our national debt has grown faster than our economy

has, which to me seems to be a problem. If this debt

was to be spread out among the people it would be more

than the average american would be able to pay. We therefore,

need some sort of policy that wouldeventurally cut our national

debt to some reasonable amount. A new policy would help by

lowering the currentinterest rates, which in turn would allow

for moreinvestment to occur. This would raise our real GNP of

the economy. This increse in investment would also

increase our national savings as well, which would lead

to an increase in the national income average of our

nation's average families. Considering the amount

of our debt, this healing process needs to be done over

a long period of time. According to research, if done

to quickly it would only hurt the current economy. If

we are going to cut the governmental sevices it will

need to be done in small doses. This will enable the

average american to respond and prepare for the cuts.

That way the american will not be hit as hard by the

governmental cuts if they are prepared, and the effects

will not be as harsh.
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