nation's finances

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.

Prior to this discussion in class, I was extremely uneducated about the national debt situation. As much as I realize it is important to be knowledgeable in the debt crisis, as well as other national government problems, I felt overwhelmed by the subject. Because I have no economic or government background, I have never even had the basics explained to me.

In every day life, the average citizen does not recognize the importance of the national budget. Seemingly, government spending does not affect the daily lives of citizens.

This edition of the BlogWatch covers the end of last week through the weekend.  The blogosphere leans somewhat to the left this edition, as chatter ensued following comments from GOP presidential nominee John McCain. 

The blogs covered a wide spectrum of substance this week – and it’s only Wednesday.  From coverage of the candidates and their fiscal policies to speculation about a potential depression, discussion about America’s fiscal policies is robust to say the least.

Welcome to the first edition of Facing Up’s “Budget Blogwatch!” The blogospere is swarming with information and debate surrounding federal spending and associated budget woes. Check back often for an updated report, featuring some of the web’s most popular and well-informed bloggers!