Dear Future President,
This year the national debt exceeds eighteen trillion dollars and is estimated to approach twenty-one trillion dollars by 2019, so there for the national debt should be addressed. As of September 1, 2016, the official debt of the United States government is $19.5 trillion dollars. This amounts to $60,059 for every person living in the U.S, The public Debt in the United States is primarily the debt of our federal government and how they are spending the U.S. money.
We need to start trying to pay the debt because in the last ten years the federal debt has almost doubled to one-hundred three percent. While state government debt has just stayed at about a little over 6 percent total. If the national debt is never paid the U.S. can become the next Greece and not be able to get any more loans because of not being eligible to pay off loans in their history. The thing is that if the debt is being paid off the amount of money the people will need to pay their taxes will skyrocket.
The United States is ranked first with the highest national debt of $19,643,000,000,000. The United Kingdom come in second but only with $9,591,672,000,000 in debt. These numbers show how the United States is not only in major debt but is the highest ranked with debt in the whole world.
Some people believe America could NEVER become the next Greece. But never say never because anything can happen, nobody can predict what is and will happen in the future. They say America is too economically stable and set for that to happen in America. People have predicted that the “U.S. publicly held debt will grow to 180 percent which would exceed the current Greek-level by 2039. Yet U.S. debt is already in the danger zone, dragging down present-day growth prospects”.
The American People think that we will never and can’t become the next Greece but things can change and will change over the years. Just look at America now nobody thought that this would be the reality of this country today. Nobody can predict the future so we need to pay attention to how much debt are we really in and how can we fix that to become more financially stable.
This is why we need you to help fix this continuous national problem, so we can help the nation and all the people living here. The over eighteen million dollars in debt needs to start being paid off over the next couple of years. What people should pay attention to is what would happen if the debt just kept adding up.