Federal Debt And Its Effects On America 's Economy

1163 Words Nov 13th, 2015 5 Pages
America’s economy is a fading light in an endless void of blackness that is going to keep getting dimmer and dimmer until it sizzles out, and unless America realizes this and does something about it, American economy is doomed. Federal debt, lack of jobs, discouraged workers, jobs overseas, job loss, state and local bankruptcy, and reckless inflation all take a large part in the deteriorating of America’s economy. American’s have failed to acknowledge the growing crisis, and because of this, our economy is reaping the consequences. Each problem that America’s economy is facing is going to require a unique set of solutions and an army of problem solvers. Is fixing the United States’ biggest problem going to be easy? Of course it isn’t going to be easy. But it is possible? With every American working together to pay back our debt and end this economic apocalypse once and for all, anything is possible.
Federal debt has been haunting America since the American Revolutionary War in 1775. Since then out debt has grown from a mere forty-three million dollars to a whopping seventeen trillion dollars, making America’s debt the largest in the world (Amabeo). With such an overwhelming debt the Social Security Trust Fund won 't have enough to cover the retirement benefits promised to Baby Boomers, which will inevitably lead to taxes rising to an unbearable, all-time high. So, what can be done about this seemingly unavoidable future? Some say that the best way to decrease national debt…
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