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National Debt:

Essay by   •  March 22, 2011  •  313 Words (2 Pages)  •  1,806 Views

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National Debt

Who is to blame for amassing such debt in times of

peace and relative prosperity, a debt that would have shamed our

nation's founders? ALL OF US! First there was the Republican

presidents of Ronald Reagan and George Bush who lacked simple

economic sense, calculated their budgets more for political gain

than for economic effect. While the Democrats controlling


who resisted the spending cuts and tax increases needed to balance

the budget. Last and most important the voters who supported the

candidates of both parties who kept telling us what we wanted to

hear instead of what we needed to hear.

Every year, the federal government spends more than it

collects in taxes. To make up the differences, the government

borrows hundreds of billions of dollars annually, competing in

the marketplace against private enterprise for the use of the

money saved by American citizens. The deficit amounts to $1,150

for every single American. That is the sum your government

borrowed on your behalf last year, whether you wanted them to or

not. We will continue our viscious cycle of having to raise taxes,

cut spending, and borrow more and more money to pay interest

upon interest.

Yes, I feel the Republican Plan should be vetoed just

because they are planning to make those draconian cuts into our

social fabric. And of those social fabrics is education for our




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