We hear a lot of political rhetoric thrown around the news and the capital about deficits, debt, liablilities, and other economic terms that most of us know nothing about.
Basically, what it all comes down to is that we, the American people, want to have more benefits but give less of our money to the government. So, the government has to borrow money from other countries to pay for our benefits. The result of all this borrowing: 13,000,000,000 in debt. That means each person in this country is over 40,000 in debt to a variety of countries, primarily China, Japan, and Saudi Arabia.
Why does this matter? Because eventually, these countries are going to want their money back. And when they come asking for it...someones gotta pay. Its going to be us.
So what do we do now? We do what is ECONOMICALLY best for our country and NOT what is POLITICALLY best for the leaders of our nation. We get out of debt. We only get the benefits we can cover with our income. We use a PAYGO system (ring any bells Clinton lovers?). In short, we suck it up and deal with the fact that we don't have the money to have everything we want.
My inspiration for this post: Frontline - Ten Trillion and Counting. Watch it. And then do something about it.
http://www.pbs.org/wgbh/pages/frontline/tentrillion/view/
-lil' miss liberty-
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