Why is the government just ignoring our huge debt crisis?

Question

I am 24 and an economist. I am extremely frightened at the direction this country is heading, in terms of its lax attitude on the debt. Both political parties seem responsible, but the war is definitely not helping. Young people don't seem to realize that the older generation is setting us up with a debt that we can't possibly pay. is there any solution in sight? I would definitely appreciate any thoughts.

Answer 1

We can just pray that our kids are not as money hungry as the Bush generation is, I don't think they understand how much famine they will be inflicting on this once great country, just so they can be called hero's for cleaning up other countries, yes we are awesome for doing our part across this huge planet, but I think it is about time the government starts focusing on us Americans before we become 3rd world, then who we going to rely on? God bless the kids

Answer 2

I am 21 and studying business right now, I have decided that studying business would be the best option specifically for the reason that there will be a need for more people my age to deal with debt and repayment. I am more frightened then ever about the amount of debt we have accumlated over the past 8 years. Most of the debt is in form of bonds to China and Japan so I feel that we as the American people have to suck up whatever grievences we have against Chinese foreign policy and make good on that friendship because if we make them mad they can just stop buying those billion dollars in bonds. We need to shut Guantanamo Bay because that is a smear in our foreign policy that the Bush Administation plays down in how bad it reflects on us a nation. I only say that because one way we need to fix this whole mess is by starting to get into the manufacturing and production of raw goods for export. Our 30 years of negative balance of trade might also be a long-term fix that could help us generate revenue through exporting more then we import. America has many untapped raw materials.

Taxes need to go up, If we start to pay the  interest on these loans now then in the future we wont be in such bad shape. Sadly I believe that we need to do some extreme spending cuts and trimming of unnecessary government programs. Whats more is PORK in appropriations bills. 500 million dollar bridges to no where and billions of dollars spent on farmers being told not to farm their lands in not only ridiculus but unjust when we have so much that needs to get done.

The truth is that at the state we are now, the best way to deal with this mess is by turning it around and not viewing it as a debt that will bring us down. But a debt that will bring us together as an American people who made a mistake in electing a man of self-interest to the White House who used it an American Express card to make good on a family feud with Saddam. We can do this by implementing some Roosevelt-esq New Deal programs that will not only help across the board on income levels but will bring us together as a people. We're American and as pig headed as this sounds I believe in what we can do, what we have achieved thus far, and know that we will come together when the time is necessary.

Answer 3

Join the club.

We inherited our parents ignorance of the national debt.

And we haven't been smart enough to figure it out.

So, your generation seems to be far brighter and should be able to stop the trend.

It would help if a President was in office that knew his #$# from a hole in the ground.

And didn't feel it necessary to line his pockets on our backs.