National Debt :: Economy Economics Argumentative Papers

National Debt The national debt has always been a major concern of the american public, whether they truely know what it is all about or not. What most people do know is that the debt that our country has is continualy growing faster and faster at an unbelievable rate, toan amount that many of us can not even imagine. The national debt and it's problem has been an on going issue in today's headlines, and each president is faced with this buring problem. President Clinton tried to install a balanced budget plan during his current term in office, however it lost 99-1. Althought the public was not able to vote on this plan directly, we, or at least I have an opinion concerning the issue. I personally believe that the fact that our nation is constantly growing more in debt by the minute is a major problem. Although that techincally we do not have to pay it, is not the point. What is the point is that we are a nation that is in debt. According to reports, since 1981, our national debt has grown faster than our economy has, which to me seems to be a problem. If this debt was to be spread out among the people it would be more than the average american would be able to pay. We therefore, need some sort of policy that wouldeventurally cut our national debt to some reasonable amount. A new policy would help by lowering the currentinterest rates, which in turn would allow for moreinvestment to occur. This would raise our real GNP of the economy. This increse in investment would also increase our national savings as well, which would lead to an increase in the national income average of our nation's average families. Considering the amount of our debt, this healing process needs to be done over a long period of time. According to research, if done to quickly it would only hurt the current economy. If we are going to cut the governmental sevices it will need to be done in small doses. This will enable the average american to respond and prepare for the cuts. That way the american will not be hit as hard by the governmental cuts if they are prepared, and the effects will not be as harsh.