I can guarantee that one of the many worries a college student faces every day when they wake up and start their day of classes, is they are going to have a job once they have completed their education, which is going to help them pay back those student loans they have borrowed. After spending thousands of dollars to better their futures, is it someday going to pay off, or have they wasted their time by adding their chunk of loan money to the national debt? It is in troubled times like these, somehow you wonder how we got here, and how did it get this bad so quick? Of course, whoever the individual that has the title of president that is hanging over their head is going to get fingers poked at him, but is that really necessary? The national debt is a problem that has been created by more than one person; therefore, the blame rest upon many of the individual’s living in the United States, because it is ever so simple to charge a plastic card and borrow money that cannot be paid back easily. Of course there are other contributing factors to the national debt such as the war and even the recent bailouts. The national debt is not something that is going to be fixed with the wave of wand, but is something that can be if American people just stop and look at how their money and their tax dollars are being spent.
A potential consequence of our growing national debt is a total economic crash. This would most definitely be a turn for the worse, but could very likely occur. This year many Americans watched the stock market take a pummel, as they sat back and watched to see if this was going to be a replay of the Great Depression as they held tightly and closely to their jobs. It is hard to fathom getting out of bed each and every day wondering if that factory that your parents are employed at, or that hospital that those doctors your grandparents see on a regular basis are going to be there from day to day. Without out a doubt many businesses big and small are closing their doors right before our eyes leaving millions unemployed; in result of the current unemployment situation, finding work once laid off seems to be getting tougher and more scarce. Bailing out the auto industry did save a great number of jobs, but the only thing that I believe is fair, is if you bail out one large business you better not forget those small businesses that do have employees too. Think about it, it is only fair. Jobs are most definitely not the only thing that has took a deep dive, but the housing market has as well. Employment and housing go hand in hand with one another. Driving around a city or a small town, stop and look around. See all the, “For Sale,” signs scattered throughout the streets. You once thought you knew the neighbors that lived next to you; consequently, the next thing you know is that you have a foreclosure sign standing in the yard next to you, because the bank seized your neighbor’s house.
Now the question is how we as a society put an end to all of these devastating things that are turning our lives around. Budgets could be key in solving our ever growing national debt, by just simply cutting back from Medicare, Medicaid, education and even national defense. Just by cutting back a small portion on these things, will help America get ahead of herself before she is drugged completely into the ground. Therefore, if some type of reform can just be laid out and get passed that can consist of some goals and restraints of how money is being spent, it will then inch America closer and closer to the prosperity she once had. Another resolution to helping ease the national debt would be to end the war. Right when we thought we were getting closer to bringing our entire troops home, we send more overseas. It is getting close to a decade since America has been at war, and it is going to take longer than that to dig her out of her financial troubles.
It is quite relevant that something needs to be done about the national debt. For starters we as American’s can start by watching how we are spending our pennies, and remember that the minute plastic cards that may fill our wallets is not something that is going to cure our national debt.