Arguments Against National Debt

The national deficit in 2015 was $435 billion, which means the U.S. government spent $435 billion more than it brought in. This consistent overspending has led to a debt of over $19 trillion dollars. When pondering these incomprehensible figures it is important to consider the causes that led to this financial dilemma, and the effects such a huge debt will have on society.

The amount of money that the United States government owes as of October 17, 2004 at 03:48:52 pm GMT was $7,435,016,998.21. The debt has increased by an average of $1.7 billion per day since September 30, 2003! From a more individual perspective, currently the United States population is roughly around

So what is the National debt? It is when government spends more than it collects in taxes. Then the government has to borough the difference by selling interest baring IOU such as US bonds. For example a Us bank buys a one hundred dollar US bond it gets to loan out ten times that amount so the bank not only gets back the one hundred dollars plus interest from the federal government it gets to loan out another thousand dollars it doesn’t have and charge additional interest. Therefor banks get to make money out of nowhere. Plus if you think about it, that is one of the reasons that the biggest buildings in any cities are bank building. Debates about defense spending are arguments about our defensive strategies. What you spend depends on what you want to do militarily, which depends in what creates security. “A more modest strategy of restraint starts with the observation that power tempts the United States to meddle in foreign troubles that we should avoid” (Friedman). But what does restrain mean? It means fighting that temptation of minding someone else’s businesses. The Congressional Budget Office and the Office

The U.S national debt is 19 trillion dollars. This debt has been growing since the Financial crisis in 2007. As

The approximate amount of America’s national debt is about 19 trillion US dollar. The approximate figure is about $19, 939, 707, 330, 425.

Alexander Hamilton was the first individual who introduced the national debt to the U.S. believing that having a debt would be a national blessing. As decades and centuries past by the federal debt continued to grow which led economist’s believing that deficit spending is an important factor. Another contributor to this national debit is also the federal budget the President and congress go over every year, which includes an accelerated rate of discretionary and non-discretionary spending. An interesting fact to know about the national debt is that every person living in the U.S. will have to contribute roughly around $57,000 to end the tyranny of the national debt. One fact that the national debt continues to grow to this day it totals to around 18 trillion dollars which makes me think what our future holds, the time to act is now. What would our founding founders think about our debt, they left our system for us to follow not to make it worse. What do we need to do as a nation to make sure we aren’t slammed with the mistake taken by your government officials and President’s.

America began with debt from the revolution. The government owed the soldiers for their service. Until a brief period of time during the Jackson administration, the country remained in debt. In the early to mid 19th century, the U.S. government managed a budget surplus. Many years later, the Clinton Administration also experienced a short-lived surplus; however, government debt remained high and increased dramatically soon after the 9/11 terrorist attacks as the U.S. declared “War on Terrorism”. Spending cuts were not enough to balance the budget and put the government in a surplus. The government also stopped the tax breaks during the Bush Administration in efforts to reduce the deficit. The Federal Reserve lowered the interest rates resulting from the housing crisis in order to stimulate the economy so the government can borrow more money with less interest on the debt. Currently the deficit continues to rise, likely because of the continued “War on Terror,” as well as the unrolling of the Affordable Health Care Act. Social Security and Medicare expenses also continue to

The large amount of debt could also compromise national security by constraining defense spending in times of international crisis or by limiting the country’s ability to prepare for such a crisis.

The National Debt is the sum total of all deficit. This is the amount of money that is over the budget and money that is borrowed from other countries to help in our financial needs. The deficit effects our country by the government doing what they believe is best for the country and spending more than what the country makes. The United States ends up having more than what we needed to survive and having to throw away more or most of those goods rather than repairing it or just getting enough to that would be needed to feed our country. This creates debt and increases it the more that the people or the economy is in risk of a recession or a depression.

All over the internet there are websites dedicated to showing the national debt and “expanding” peoples knowledge on some of the more recent information leaked from news channels and websites. Brilling.com is a perfect example, when you first visit this website you will notice at the very top of the page there is a debt clock that shows the “current” U.S. national debt. As you look a little farther down the page you find the “current” population of the U.S. and each citizens part of the national debt. After scrolling down a little you will find that the last section of the website is dedicated to an outdated(1999-2013) list of articles relating to the national debt. One of the articles on brilling.com states that the national debt was raised more under Obama’s presidency compared to Bush’s presidency. This cbs news article from 2012 states that as of March 19, 2012 the national debt had gone up more in Obama’s three year and two month term (4.939 trillion increase) compared to Bush’s eight year term(4.899 trillion increase). If the absurd amount of money the national debt increases by each day wasn’t enough for you cbs news states that as of 2012 the U.S. national debt exceeds the U.S.’s gross

The real debt problem began during the Ronald Reagan Administration. The economic program that was proposed by the Reagan administration at its inception in 1981 was not based on the Keynesian theory or looked at as an expansionary fiscal policy. There was a reduction of 30% in personal income taxes with an even bigger cut being given to corporations. The end result of this type of economic program was that the budgets were met and government spending was going through the roof. All of this eventually caused the 1980-1982 recession, in addition to a sharp decrease in GDP during the second quarter of

When I first thought of national debt I thought about only the cons and disadvantages of having it. I never gave thought as to what the advantages of having it may be. National debt is the amount of money the federal government owes to lenders outside of itself. "When the Treasury borrows funds, it issues Treasury bonds; these are IOUs of the federal government. In other words, the national debt is a stock of IOUs created by annual deficit flows." (Schiller 261) With the help of research and my economics class, I have learned that having national debt is not always a bad thing. For example, the financial crisis of 2008-2009 and the effects it had on the economy and people was horrible. However, I learned that if it weren 't for the increase in government borrowing by bailing out banks and financial markets, the banks and financial markets could have froze and that would have thrown us into a Great Depression type run on banks. If the government uses its debt the right way, then it will allow the government to do things that it couldn 't really do before. I believe investing that debt instead of spending it would be the wiser choice. The government sometimes spends money so that consumers will have money but they just end up spending it. This is just a way for the government to stimulate spending at that moment. That 's just a short term benefit. Therefore, by investing its debt in things such as medical and technological research and education will create a long term

The National Debt consists of the total debt accrued by local, state and federal. Public debt is essentially the federal debt, thus compiling the staggering number that already exists. The debt deficit to me is astonishing. Currently, the total public debt in the United States, as of December 16, 2015, is $18,788,138,221,346.49. This includes $13,600,726,418,253.26 debt held by the public and $5,187,411,803,093.23 by intergovernmental holdings (usgovermentdebt, 2015). High GPD is not anything new to the United States. The all-time high was 121.70 percent ($18827323.00) in 1946 and a record low of 31.70 ($253400.00) percent in 1974 (United States Government Debt to GDP, 2015). The way we are spending, and the debt we are accruing, it would

The national debt is the result of the government living beyond its means and promising the American people more than what they can actually provide. If the government provides benefits (monetary and otherwise) to the American people the only way they can pay for it is through taxing the American people to pay the money back. For example, current government spending included an economic stimulus package, tax cuts and approximately $800 billion spent on the military by the current administration. Before the 2008 financial crisis, prior administrations increased the national debt by adding additional tax cuts, increasing military spending, and expanding discretionary spending. With poor policy making, running annual deficits and paying interest on the debt itself, it is a vicious cycle with no potential cure insight (Newman,

Take a look at newspaper headlines from September to December 2008, one common theme will emerge the stock market crash. At the end of 2007 the national debt was approximately nine trillion dollars. Throughout 2008 companies and banks are becoming nationalized while others are being saved from bankruptcy. By the end of 2008 the national debt increased to ten trillion. Every year after the debt continued to rise. In August 2011 the Americas credit rating downgraded from AAA to AA+ (nifi.org). Also, during 2011 47 percent of the debt was owned by China, Japan, and the United Kingdom (nifi.org). Fast forward to 2014, an estimated seventeen trillion dollars is now the current national debt total. February 10, 2014 congress raises the