The Us National Debt Problem

1816 Words8 Pages
The U.S national debt problem

James Gartrell-Sebe
American National Government
22 November 2015

James Gartrell-Sebe
Laura Canard
22 November 2015
The US national debt problem
The US national debt has become an important topic in recent years and needs to be looked at moving into the future. This is the amount owed by the federal government of the United States. This debt is made up of debts held by the public and also debts held by government accounts. The extreme amount of our national debt should be seen as a problem and will need to be fixed. The amount owed is getting to the point where it needs to be taken care of and lowered to a point that is controllable. There are consequences if the national
…show more content…
Many investors believe that this means the United States will have problems repaying these loans in the future and will cause many economic problems in the future. The debt accumulated this much because of deficits in the national budget. These can be caused by new programs to help citizens or help the US economy. Tax cuts, military spending, and the economic stimulus package caused this national debt to skyrocket. On the website it shows our largest budget items are Medicare/Medicaid at $1 Trillion, Social Security at $886 Billion, defense/war at $583 Billion, income security at $303 Billion, net interest on debt at $224 Billion, and Federal pensions at $255 Billion.(usdebtclock1) These debts are large and spending on some of these programs must be cut.
In recent years Republicans and Democrats have both blamed each other for the rise in the nation debt. Republicans blame President Obama because he greatly increased government spending and the US economy struggled to fix the economy early on. The Democrats will also claim that President Obama inherited this national debt from previous President George W. Bush. Bryant states, “Large debts were introduced during the George W. Bush’s presidency. Increased spending has been documented and stated many times. This was to fund a military during a

More about The Us National Debt Problem

Get Access