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Essay by:Raechel Anne Lockhart
Emporia State University
As a young college student it has become clear to me that the debt problems facing our country may very seriously affect me along with my friends and family. It is the people of my generation that may very well be affected the most by our country’s growing debt and the plans that have been laid out to help restore our economy. The brunt of the financial efforts to support the new tactics being laid out by the government will be laid upon my generation.
Although I may not have the best background in politics or the economy, I feel that I have taken a strong awareness to the problems that are currently facing our nation. I see the impact of this economic downfall everyday from my parents own financial situations to the prices of items either raising or lowering. There are many causes that have brought out nation to the situation we are facing now. Many Americans, whether government officials or common people, seem to be looking for a person to blame. Whether they choose our past President Busch or our current President Obama, it seems that much of the blame is being centered on these high – level individuals.
There is considerable blame to be spread about for the situation we are currently facing. One of the most important causes is that of the bailout situation. I am angered over the fact that my money is being used to bailout large corporations and banks; then, they use this money to pay their high salary bonuses. I understand that the demise of some of these major companies would result in the decline of our economic situation even farther, but that the decision was made for us in a hurry. Since it is my money that has bailed out these organizations and my taxes that are being raised, I wish the situation should have been put to a public vote before taking away the little money I already have as a college student.
Among the bailout situation there are other factors that have and are contributing to our current economic situation. The fact that the United States government is continually borrowing money and increasing our national debt, it is only worsening an already serious problem. By increasing our national debt we are only continually promoting a domino effect that is knocking down the lower to middle class even further; it is those who need the most assistance.
I also find myself very concerned with the issues of Social Security and Medicare. Besides concern for the elderly of today such as my grandparents I am even more concerned with how this economic downfall is going to affect my potential benefits as I grow older. These programs and others are being pushed aside during a time when the elderly need the benefits the most. With the way the government acts, it seems to be only concentrating on the high income earners and big businesses, while the lower and middle income people are being forgotten. I fear for the time when I need these benefits and they are no longer available because of the decisions made during this economic hardship.
I think that the government needs to look at the backbone people of this country, the ones whom are typical everyday Americans and think about how this economic situation and the way that they are handling it is affecting us. We need to concentrate on improving our country during this time so that we may be strong when dealing with the burdens we are facing now and the ones that are to come. Money needs to be spent to further education at all levels instead of cutting back. I do not see how spending our money to bailout large institutions, which use our money to pay their crazy salaries, is building a better and stronger country to put up against these hard times. Take the money that we the taxpayers are paying and use it to better our country, through encouraging education and government programs such as social security not blowing it on firms. The cuts that schools have to make such as not offering as many classes and cutting staff while at the same time raising tuition is only discouraging Americans to continue their education. With a discouraged and uneducated younger generation, how are we to be the future of America? My generation will be asked to lead this country eventually and by ignoring our needs and not helping to create a brighter future, how are we to be partners to help the fight in this economic disaster?
»A new report finds the main problem in getting the public to deal with our fiscal problems isn't opposition to tax increases or spending cuts -- it's their lack of trust in the government to spend their money wisely.