The Current State of the National Debt
By Gabrielle Seunagal
With every passing day, the national debt increases. Some people would be shocked to learn that America has been plagued with debt since the year of 1835. It has been projected that we will not be paying off the debt anytime soon, if ever. In this day and age, government spending has become a rampant, detrimental force and taxation does not offset the massive amounts of funds being consumed.
Despite certain beliefs, America’s current national debt should serve as a matter of alarm. For starters, interest payments are a packaged deal when it comes to debt. The money that goes towards interest fees could very easily be put to better use. Alas, so long as national debt exists, so will interest payments. Additionally, interest drains the economy, which innately impacts the private sector. The national debt is like a black hole; the bigger it gets, the more devastating the impact. Unfortunately, the American people have very little control over the state of the national debt. Washington leaders continuously make decisions that will engender the rise of national debt. The more it increases, the more generations to come will be forced to foot the bill.202 views