Money is NOT Everywhere!

Essay by:

Hailey Jo Copeland
Emporia State University

Money here, money there; money, money everywhere! In today’s society, that’s all anyone ever talks about. We see it on television, hear it on the radio, read about it in magazines, and experience the effects that possessing money brings to us on a day to day basis. But unfortunately, all of this talk isn’t about having money, it’s about not having money. So, my statement is incorrect- money is NOT everywhere, it’s barely anywhere. This is due to a rising problem facing the United States today; our debt. In our nation today, we as Americans are experiencing what many would call the second Great Depression.

First and foremost, the national debt, however, is not solely calculated upon our government and high officials in Washington, as many apathetic American’s may think. But, debt is defined as ALL U.S. debt. This numbered is totaled by adding the debts of federal, state, and local governments, international, and private debt, which includes: households, business and financial sector debts, and federal debt to trust funds. Based upon this definition, every U.S. citizen has contributed to this debt, no matter who you are, or where you work. This has been caused simply by people or companies that have used loans, or credit, and can’t pay it back. The lack of income to some is one reason why loans and debts cannot be repaid in full, causing a chain reaction- if one person can’t pay someone, then that someone can’t pay another person, and so on. Because of lack of structure, the debt has gotten uncontrollably out of hand and no one seems to know what to do to stop it, let alone fix the problem.

According to Michael W. Hodges, author of America’s Total Debt Report, as a U.S. economy, we have reached a whopping $57 trillion in debt. This is the highest debt ratio in history! Based on these calculations, that is $186,717 per man, woman and child (or $746,868 per family of 4). To me, that is astonishing! In Kansas, each family could have a nice house and a nice car, all paid for with that money. Unfortunately, that money has not been used in such a way, rather its money that we owe. But where has all this money gone?! Many of us can’t even fathom 1 million dollars, let alone trillion, and you add a 57 in front of that, it almost makes one’s knees buckle. It’s crazy to think that America, the “leading nation in the World”, could be suffering from this. Unfortunately it’s not getting better. However, the debt is increasing rapidly, by $3 trillion last year alone.

As a college student, this news is quite frightening to me. I am experiencing debt first hand, with student loans. It’s unbelievable the cost of college, and everything that comes with it. Thank goodness for loans! (Or so it seems.) It’s just free money right? Wrong. What many students don’t realize is that all of this money will eventually have to be paid back. In order to be able to pay the money back, income must be necessary. However, this is where another problem arises. Because of our nation’s debt, it is affecting job opportunities and placement as well. Many businesses are on what you would call a “freeze”, meaning they can’t hire anyone because they can’t afford to pay them. So what does this mean for us? That’s where the problem arises. If we can’t find a job, then we won’t receive paychecks, which in turn won’t allow us to pay back the debt that we owe.

We must take action now. It’s already too late, but it’s better late than never. If we don’t do something about it soon, our children, their children, and generations beyond them, will suffer from the decisions and actions that we make today. We may not benefit for many years to come, but I am willing to do whatever it takes to ensure the stability of the national economy for the future. It starts right now!

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Re: Money is NOT Everywhere!

On April 26th, 2009 rlockha1 says:

Hailey,
Your title was very catchy and drew me into the essay. You made some very good points about all of us contributing to the national debt and made me think about our debt in different ways than I have before. I agree with you on the college loan issue, many of us are going to have big problems if we do not fix our economy soon. Without jobs we will never be able to pay back the student loans we are taking out to pay for the education that is getting cut. Great job!

Re: Money is NOT Everywhere!

On April 26th, 2009 amylosey says:

I agree with you on this sort of cycle that is present. In order to get a good job we, as college students, must get a degree. That is expensive. Loans mean payments just like rent and other bills. This means you must have some sort of income but if the unemployment rate continues to skyrocket like it has, we may not be able to find the jobs we need to support ourselves with gas and groceries, let alone be able to pay back our college loans. It is a vicious cycle and we need help to get out of it!
-Amy Losey

Re: Money is NOT Everywhere!

On April 27th, 2009 akoeppe says:

Great essay! Money really isn't everywhere, people just think it is. It's nice having student loans right now, but after it's all said and done I know they will be piling up. I agree that in a way it is too late, but better late than never to start fixing our problem. If only it wasn't such a hard situation to fix.

Aubrey Koeppe

Re: Money is NOT Everywhere!

On April 27th, 2009 jross says:

I like your title and the sentence in your essay that relates to your topic. Money seems to be EVERYTHING! As a student worker on campus, i have experienced cut backs in hours myself. It's not a very happy situation and its crazy to think about the U.S in such a bad situation. We think it hasn't effected us yet, but it has. In the past, we have all taken advantage of many things that deal with money, now, we struggle to get by with the basic necessities. Good essay!
-Jessie Ross

Re: Money is NOT Everywhere!

On April 28th, 2009 Sbeards2 says:

Hailey-
This essay was great! I really likes how you defined what National Debt really is, most people (including myself) have a tendency to forget what it really is and think of national debt as just what the national government owes. I also thought it made a great impact to include the numbers you did. When you calculate the debt down to what each person would owe it really puts this large problem into prespective. The student loans, also another great point!
-Stacy Beardslee

Re: Money is NOT Everywhere!

On April 28th, 2009 jasinta says:

Hailey-

Your title was very cathing and it drew me into your paper! I also like your attention getter! You had so great points! I liked how you added your own view as a college student. We all must keep in mind that someday we must be paying those loans back and they are not just free money! Great essay!

Jasinta

Re: Money is NOT Everywhere!

On April 28th, 2009 jherman1 says:

I really liked the title of your essay and it definitely caught my attention. Much like you said in your essay, all people ever talk about is money, so I'm sure your essay will catch the attention of many people. I was shocked to read about the current debt of our nation and how it could be so bad when our lifes still seem okay. That's the thing though, they are not ok. I think that right now we aren't seeing the effects too badly, but when we graduate college and are looking for a job to pay back our loans, the talk of money will be a big topic but not in terms of how much we have, but the lack their of. Great essay!
-Jodi Herman

Re: Money is NOT Everywhere!

On April 28th, 2009 Emily_Readinger says:

I really like the issues you bring up. And the figures are astonishing and my mouth always drops when i see them. I really like how you included all of us college students. You are exactly right, we are all trying to get an education so we can have a good job, but we are already in debt. Good job on your essay!
-Emily Readinger

Re: Money is NOT Everywhere!

On April 29th, 2009 ecatlett says:

Great job on your essay! You are one-hundred percent correct money is not everywhere. Money is scarce right now not only for college students, but for everyone. I like and agree with your reasoning of the domino effect of why this national debt is all happening, because of the lack of income and people not being able to pay their loans back in full. Wonderful essay.