As our deficits continue to rise, our government should focus on ways to increase revenue and reduce the national debt. According to the US Debt Clock, if the U.S economy were to suddenly crash, each citizen would owe $202,835. That is more than the average citizen were to makes in 4.4 years. In 2014, a wage survey concluded that the national average wage per citizen was $46,481.52 (Social Security). If the United States continues to ignore the debt that is lingering, the countries that we owe money to could cut us off from trade. If this were to occur, not only would it hurt our economy, but we may end up in another great depression. China, Japan and Brazil are just a few countries that the government is in debt to. Even though there are other areas of concern such as military, education, and social security that the government needs to allocate spend to, reducing the national debt is what our government officials should be their primary expenditure considering how large our debt has gotten to.
If the Government does not find a way to reduce its expenditur...
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...security. If the government primarily allocated spend to these areas or primarily on the people, then our economy would suffer. In other words, if the U.S. government ignored its debt and only concentrated on its people, the debt would continue to rise and would take longer to pay off. The government needs to start allocating more money to debt and get it paid off so that officials could then make its main focus the citizens. There are clearly many areas the government needs to balance spending on but more emphasis needs to be made on lowering the trillions of dollars of debt. If focus isn’t made on reducing this debt, it’s believed we will end up in a recession. This would not only cause continued debt and very little spend on the needs of the people but could very well cause a negative impact on trade relations with foreign countries on much needed trade items.
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