$15, 121, 881, 440, 223 trillion dollars. 312, 785, 774 United States citizens. $48,344 debt per taxpayer. National debt.
There is high tension in Washington, D.C. regarding the national debt. Generally, Republicans oppose tax increases and Democrats dislike decreases in government spending; together have both been ineffective at solving the national debt. Even after several months of work, a legislative super committee failed to make sufficient progress regarding the deficit.
The debt is increasing. It is not something to merely “come back to,” it must be addressed in a quick and timely manner before economic collapse, as many predict. Phil Cut, a member of the Education and Workforce committee, states, “…government spending cuts need to be made to avoid severe economic disruptions—both in the short and long-term. The national debt and deficits are rising at an unconscionable rate.” Cut then goes on to say, “It is imperative to the future of the country that we fight for an immediate shift toward fiscal responsibility.” Obviously, this is serious.
The government needs to step up. This is party-neutral. Whether Romney, Gingrich or Obama leads us out of debt, it does not matter. It just must be done. I criticize officials for being more concerned with very speculative climate change, than the debt that has ruined America’s top-notch credit rating.
The thought of passivity, with a growing debt, is frightening. While America’s economy is certainly not in an ideal place right now, waiting to solve the debt will only injure it further. We need to act now, while we still can. America has not been dramatically affected by the decline of the Euro yet, and still has relationship with China, despite massive debt. “Now” is the operative word.
$200 million an hour. $30 billion a week. $120 billion a month. $1.6 trillion a year. This is our reality, a lasting reality, unless someone, some party, takes necessary responsibility. This debt threatens to consume future generations and the American dream. America must act now.