Thoughts on the Nation's Debt

American national debt has been largely ignored by politicians. The divide between rich and poor is already growing and I fear that the national debt crisis will only increase its growth. Without immediate action, I predict that the standard of living for my generation will sharply decline and important federal programs like Medicare and Social Security will be substantially cut back. I think that most American teens and young adults are completely unaware of the danger that is to come from our government’s federal deficit. Instead of covering federal debt, the news projects stories on national security, Iraq, abortion, and gay rights. It is no wonder that America’s next generation is largely unaware and it is no wonder that they are not demanding their political leaders to take action. Economists need to be sent to High Schools and Colleges to inform America’s youth, liberals and conservatives alike, on the coming fiscal catastrophe. How are we to pay for the retirement costs and medical bills of the boomers when we are still forced to cover other government costs and keep taxes low (or at least a reasonable level)?

Right now we are not doing what is necessary to control spending. I am afraid of the inflation that is to come from such high debt. I am left wondering how America’s next generation will manage to pay off this debt to the nation’s over-seas bankers. I think that the baby boomers should be asked to cut back on some of their retirement benefits. Primarily, they should not receive as much social security money and thus leave more money and opportunities for their children and grand children. No changes or new policies will be established without the American public demanding them. The American public must be informed on the coming crisis and must demand their politicians to create change.