Ten Trillion and Counting

609 Words Apr 23rd, 2014 3 Pages
“Ten Trillion and Counting,” presented by Frontline provides quite a picture of America’s national debt as it surpasses the trillion dollar mark. They ponder the financial well being of current and future retirees while also exposing on how America got into this mess, and what the Obama administration plans to do during his term. America is able to close the gap year to year in its national budget by selling bonds and T-bills. Foreigner countries who continually purchase these obligations are beginning to grow. Much like the Bush administration, the Obama administration has started borrowing big with plans to cut the budget years down the road. It is clear for anyone to see that this borrowing and the future promises of cutting cannot go …show more content…
Leaving behind debt that added to quite a deficit what was the Obama administration to do. “Today I face you and say the challenges are real. They are serious and many,” Obama stated on inauguration day. Obama need to pull things together with bold and quick actions. Yet it seemed that borrowing was the only answer to this out of control situation. And he did just that, taking hundred of billions to bail out the banks and other institutions; tens of billions more for the auto industry; $275 billion for homeowners and the mortgage lenders; and $787 billion stimulus package to jump-start an economy spiraling downward. Much like the Bush administration, Obama and his administration are borrowing just as much, added to the deficit. It is unclear what exactly the future will look like for America as the economy is spiraling downward and other countries are becoming stronger. “Ten Trillion and Counting,” paints a very daunting picture of what lies ahead during the next election. What promises that may lie to end this all are quite difficult to predict but borrowing and spending can only last for so long. American’s standard of living is at a risk, we cannot continually borrow year to year to fund this lifestyle of wanting but not paying for it. This documentary shows exactly that we must learn how to live on what we

More about Ten Trillion and Counting