Dear future president
While your predecessor is taking on many “pet issues”, most people do not see, or pretend not to see, the most pressing issue at hand, which is the national debt. How can we expect be a great nation while we could be dealing with the next great depression? This is an issue that must be taken care of.
As of September, 2016, the national debt is at 19,481,571,141,222 dollars. That is 60,059 dollars for every man,woman,and child living in the USA. And if that is not disturbing enough, the potential consequences of it are even more so. Higher taxes, lower income levels, and drastic inflation are all reparations of this. If this sounds familiar that is because that is the way it was in the Great Depression.
Furthermore, A study done by the Journal of Economic Perspectives has shown nations that have a national debt of over 90% of their GDP saw about 34% less economic growth. The U.S is above that mark. Needless to say, that does not bode well for future generations.
Another thing that is disturbing is how we got this way. According to Justfacts.com, we have been spending more money on social programs like Obamacare than on our national defense and benefits for vets! Why is this happening? Due to the reckless spending of our government, the ones who promised to “fix” this pressing issue.
Unfortunately, paying of the debt in it’s entirety would send us into a downward economic spiral. My generation and generations to come would have to deal with this weight on our shoulders.But, it may be the only way to truly pay it off. So the question is, future president, what will you do about this. Will you recklessly spend taxpayer money on useless programs and ignore this issue? Or will you use your future position to do something about this?
Sincerely, Jacob Foss