by Michael Lodge
NATIONAL DEBT CRISES Click to see the U.S. national Debt Clock
As I write this our national debt is at $19.4 Trillion dollars.
Each taxpayer owes on that debt $162,191 and it is growing every second.
If you are voting for a Presidential candidate this fall you had better make sure that candidate is talking about how to reduce the debt, or at least understands how high debt hurts the United States. If they are doing neither – scratch them off your ballot because they will do more harm to this nation. We are spending so much money as a nation, a lot wasted, and if we do not correct the debt situation it will be worse than the mortgage crises. Congress has got to start acting and the President has got to have a solid plan on how to get this debt down.
In the beginning of this nation it was the priority of our Presidents and leaders to pay down or off the debt of the nation. In 1835 President Andrew Jackson and the United States paid off the debt for one year. It returned the next year but the Government was committed to paying down the debt. It wasn’t until the 20th Century that politicians just didn’t care anymore and the debt grew. So the national budgets became deficits and the debt grew, spending on more and more programs grew our debt to today’s $19.4 Trillion, by the time the next President takes office it will be $20 trillion dollars of debt. The nation can’t keep raising taxes and giving away free stuff. Every American is responsible for the debt, but not responsible for more spending and new taxes. This has got to end. Vote in candidates that are willing to take on the debt. If they are talking about more free stuff – the nation is in trouble.
Debt slows the nations growth. It is shown in studies that nations with high debt have slower growth. In fact with high debt the total GDP saw a rough 4% average decline in economic growth. Massive debt is a symptom of government waste and unsound economic policies. In recent years between 2009 and 2014 the federal government ran trillion-dollar deficits each year. This nation for the past eight years has had a struggling economy and has been very stagnant. You have not seen wages go up but you have seen taxes increase on all Americans. Jobs that have been created in these past eight years have been low-level jobs, most part-time jobs, and wages for the American people have remained about the same or has gone down in some cases. When you do not have an economic plan to pay down the nations debt then you can’t address the other financial concerns of the nation. Debt keeps going up every single second of every day and we Americans have to pay the bill. Government does not cut spending they have increased it. So If you are looking for free stuff out of this election – it isn’t free – all of us have to pay for the massive debt. Stop thinking free stuff and start forcing politicians to address the debt before it becomes a crises of gigantic proportions.
Per a report by the Americans for Prosperity Foundation, debt is driven by an unhealthy addiction to spending. Tax increases have been suggested as a solution to reducing the national debt, but such proposals would just hurt an already weak economy. In the end, spending cuts and responsible budgeting are the only pro-growth solutions to America’s massive debt crises. In the end, America is deeply in debt because politicians spend too much, never address the issue of debt.
When you pull the lever for President in November make sure you are pulling the right lever for a candidate that actually knows about the harm of debt and wants to correct it.
America can do better.