It is only obvious that lately our economy has been spiraling downward in the ten few years and that America is now in so much debt that it is becoming a problem. It is obvious when the economy is doing good you can always tell when the gas prices are rising and dropping or when times get a little harder and people hold on to their cash a little bit tighter. Many of our leaders today and risking our economic future and every day that passes that we, as Americans, don’t do something to address this problem is another day by which we increase the chances that we will soon be facing an economic crisis of major extent. Today we are now called the “Credit Card Nation” and that statement is obviously true. It is impossible to spend a day working in the mall without seeing almost half the people swiping their credit card causing today’s problem to only increase. People take out there credit cards and swipe up charges without giving it a second thought. Our nation is in debt by trillions of dollars and I can’t imagine how many of those dollars are spent on luxury items that many people don’t even need. Every year there are more and more bankruptcies and student loans that are being taken out and that’s not the only place money is disappearing to but also due to our budget deficits.

Our economy has been spending more money than its income dating back all the way to the 1970’s and we are no longer in an economic crisis but we are in debt. It is almost comical that America is considered the promise land, where illegal immigrants want to run away to, to enrich their lives. Yes, newly elected President Obama may cut 100 million dollars in cabinet spending and budget reflux but does that even begin to fix the mess we are in. But even this hero who repeatedly has claimed that his budget would cut the deficits by the end of his term he has already helped nearly double the deficit with his stimulus package and fixing this problem by 2013 will be very difficult. Spending cuts should have taken place before we were even close to where we are now. Do not get me wrong, I am in no way blaming the Obama administration because half of this problem started years before he even thought of running. The current budget deficit needs to be fixed, I believe eventually we will mellow out and find our way back to normalcy. If it means raising taxes or banking departments funding loans to avoid foreclosures then it’s what needs to happens so our kid’s don’t see backlash and another depression. Just this past year the budget deficit was estimated to reach 337 billion, yeah I said billion. Maybe when we were approaching the one billion dollar deficit we should have taken action? What do I know; I mean it’s our money we will be spending in the long run anyway. I have an idea, let’s stop funding Al Qaeda war efforts in the early 90's and start funding the crisis here in America. If making war allies are more important than saving our economic future then what the heck are we complaining for now? I know America wants to be well educated and all but if getting our economic future back on track means cutting government spending for federal student loans then that’s what needs to be done. I’m no president but if we can request a 787 billion dollar stimulus package there has to be a way out and a brighter future then present. It is obvious that we can’t start over or turn back the clock and that America’s debt problem is affecting almost everyone but if you are in debt then how hard is it to realize that you have to stop spending. The main problem with people, especially young adults who have such things as credit cards is they just spend and spend until they have reached their max on the credit card. The sad thing about this is that a lot of these people are the ones who care the least about today’s problem with debt.

Many people realize this problem with our debt and want to fix it and I understand it is a hard one to fix but if we start taking steps that we should have taken years ago there is no reason we can’t get back on our feet.