Monday, April 18, 2011

Why the Debt Matters

Hmm... The National Debt. Does it matter? Of course it does people. Right now the the average debt per citizen is $45,973. The average debt per tax paxer jumps clear to $128,639. Let's be honest here. When we have to pay back this monstrous 14 trillion dollars, the ones that are going to be paying it are the taxpayers. So the latter of the two numbers is the amount that will be paid by people who pay taxes and do the right thing for a living.
Congress is in the works for an increase in the limit of debt that we as a country can take on. The current limit is estimated to be met by May 16. The only way to avoid this would be to raise taxes or cut nearly 800 billion from the annual budget. Wha... Either way someone is going to pay, whether that be from paying taxes or from not getting a service that you once took for granted.
Today, S&P announced that if nothing is done soon to fix and sustain the federal deficit, there could be consequences that could become devastating to the U.S. economy. If the debt rating lowers even the slightest bit, it will cause irreversible damage to everyone's standard of living, and the American way of life.
Many people seem to be more interested in when the next "Cars for Clunkers" is going to take place, or when they can get the next handout from the taxpayers. We see no harm in what the debt can do. Today's society looks at the next few hours, not the next few years. We want everything now and that is why we are okay with the idea of debt. It has become socially acceptable to build a life around borrowing, and what better than to seemingly borrow for free. When we can borrow and not worry about when we have to pay it back, or just push the payments further down the line, we detach ourselves from all consequences that go with it. And it does not help that the government is always saying that we are just fine. It's nothing, really!
Come on people, when has the government ever known what they were doing with money? They can't figure out where most of the money they have is going. They just assume that since they have the right to print money, they might as well take advantage.
Let's step up to the plate and say no to more debt. Let's balance the books not only for ourselves, but for our children. Let's start today!

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