Mark A.

Letter to the Next President

The debt of the U.S.

September 29, 2016

Dear next president,

I know that being the president of the United States of America is a huge responsibility and that it’s hard to fix every issue in just four years. There are many issues inside the U.S. that need to be fixed, but there are also many issues outside the U.S. that will affect the U.S, and the rest of the world. The U.S. should pay off it’s debt of 19 trillion dollars that it owes to other countries and the federal government. If the U.S. pays off its debt quickly it will help the U.S. in the future if it’s in need of a loan from a country and it would boost the economy of other countries. By paying its debt quickly the U.S. would be paying less because they wouldn’t be paying the interest rates for a long time.The U.S. owes about 5 trillion dollars to foreign countries and the rest is owed to the American people and the U.S. government. Out of the 5 trillion dollars about 1.2 trillion are owed to China and about 1.1 trillion to Japan. The remaining 2.7 trillion dollars are owed to all other countries. Of the 14 trillions dollars left of the debt 2.1 trillion dollars are owed to the federal reserve and 2.6 trillion dollars to the social security. It also owes 1 trillion dollars to federal retirement and disability and 1 trillion dollars to individuals, brokers, and corporations.