11
Jul
09

My Uncle Can’t Pay His Bills.

As per the government records, the U.S National debt has inflated enormously.

The current national debt of U.S stands at a hefty amount of over $11 trillion as in March, 2009.

The current national debt of U.S has shown a massive increase in the past years.

Erupting out of the Civil War, the U.S national debt has withstood the ravages of time and still continues to grow.

Having seen no prospects of control, our national debt blossomed and bloomed to a catastrophe, just pending to explode.

Owing to past experiences, the current national debt of U.S is destined to leap further and greater into time.

Sadly, the government is doing very little to curb this grave danger that is hovering above us.

Instead, it is running the country in to greater arrears by its reckless spending and borrowing habits.

The national debt of the country as in 1791 was just $75 million, today, the current national debt of U.S rises by that sum almost every hour.

The national debt of the U.S has grown alarmingly. While its national debt stood at just $75 million in the year 1791, the amount of the national debt today rises by that same amount almost every hour.

Now, it stands at an outstanding amount of $11 trillion. The slip-up of the country’s government and authority lies in the fact that it spent more than it earned, thereby resorting to borrowing from the external and internal sources.

The government of the U.S, over the years, spent a lot of money on war and military expenses. Not to forget, the reason why the debt started is also because of the Civil War. War has brought us down and is continuously pulling us down the gutter.

The national debt in the U.S must be checked. Its growth is under constant scrutiny and something must be done about its intensification.
RED INK TO SOAK THE COUNTRY

The country has been predicted to fall into deeper waters with regards to its national debt. Following President Obama’s proposal to cut down taxes for the middle classes, revamp health care and increase opportunities for students who want to get into college, it is expected to hike up the borrowing amount.

The new policies would bring about a further increase in government spending. Also, if the taxes are reduced, the nation would be forced to borrow more money. Consequently, the economy would fall even more. There is every reason to worry about this mounting difficulty.

The matter is serious and demands immediate response. It threatens the financial stability of the entire country.
CURRENT NATIONAL DEBT CAN BE PAID OFF BUT THE TREND IS THE PROBLEM

When it comes to the outstanding payment that stands as the national debt of the U.S, the government can repay the amount gradually. The national debt has not yet crossed the 75% mark of the GDP.

For a country as big and as productive as the U.S, there seems to be no big obstruction for the country to disburse its debt. However, the amount of the debt is not what is worrying the masses today.

The problem lies in the trend which seems to be incessantly growing. The national debt of the U.S must be checked and observed with careful and steady steps to demolish it.

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