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National Debtop-Ed

Essay by   •  July 12, 2010  •  278 Words (2 Pages)  •  1,752 Views

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Thomas Jefferson after the American Revolution was concerned about the extent of our countries external debt. He wrote, I place economy among the first and most important of republican virtues, and public debt as the greatest of dangers to be feared. Currently in politics our outstanding external debt is being overlooked when it deserves our immediate attention. Our country as of Nov. 13 2002 2:50:26 is in debt $ 276,096,948,134.79. That means each persons share of this debt is $ 1,727.77 and my family of 5 share of the debt is $ 8,638.85.

The longer we put off the issue the more of a problem it will be when we have to deal with it. For example in the past year the debt has raised $ 20.8 billion. The voting public is being selfish in putting this issue off and leaving for future generations an immense problem to have to deal with.

Politicians claimed our country, between 1998 and 2001, had a budget surplus of $ 557 billion when at the same time our debt increased $ 438 billion. The Deficit Trust reported that in those years the government spent more than our revenues and used surpluses from trust funds to cover up the overspending. Right now our debt increases our spending is also increasing but our taxes are decreasing. It doesn't make sense that we spend and spend, and our debt increases. Unless we deal with this pressing matter our country will, I fear, be in trouble.



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