What do you think of the nearly 1/2 trillion dollar deficit we will experience this fiscal year?

Question

This is scary for the future generations of Americans to inherit.

Answer 1

I'm not so sure that only future generations need to worry about this overspending.   In the near future, foreigners might get scared by these huge debts the US government is accumulating.  And if they stop buying US Treasuries.  Then the US government might have to make drastic cuts in its spending immediately.  Which would deal a huge blow to the US economy and perhaps trash the US dollar.

Answer 2

I think the government should stop spending so much money.

Answer 3

I think its a big problem.  The issue here is the reckless budget-killing policies that our leaders have created.  What happened to the Bill Clinton years?  Its away.  They'll have to fix that deficit or else it will go overly too high.  Both candidates need to work on one of two things (actually both but both have problems in one of the areas)- either  cut spending (b/c one proposes too much) and/or raise taxes (one refuses to end Bush tax breaks for those who are in the top 1%).  Fiscal, tough, discipline is needed- sure some will be taxed (only the rich) and yes spending will have to be cut (reduce spending brilliantly), but it must be done or else we will stay in a humongous deficit.

Answer 4

Time for a Constitutional Amendment to mandate a balanced budget. Its obvious that Congress doesn't have the balls to cut spending.

Answer 5

The U.S.A. issues bonds to cover our trillions of dollars of deficit. These are interest baring bonds or sold short,i.e., the $10,000 bond,for example, is sold for less than its face value and repurchased by the federal  issuer at the bonds stated value.Hence, the difference in selling and repurchasing of these bounds (interest) will be a burden imposed on future generations of Americans without remedy.

Answer 6

It's not just that for the year which is bad enough, it' also an add on to the 10 trillion we already owe. It's way beyond me what this spending spree is all about. It's a credit card, not money we have. I agree with you all the way.