Essay on the National Debt of the United States

  • Category: Economics, Money,
  • Words: 581 Pages: 3
  • Published: 24 April 2021
  • Copied: 172

National debt is a huge problem in the american government with our national spending exceeding income rate. We as Americans are in a national deficit of 21.974 trillion dollars, the highest it's ever been. My opinion on national debt is flawed, I honestly don't care about the debt. I love the USA but I myself don't like the people running it at the moment. Donald Trump has raised the national debt two trillion dollars on his own expenses. None of that money has gone to me, I myself have filled out my taxes but social security hasn't given me a dime? The Government is corrupt and I don't believe in what there fighting for. I myself am christian I don't believe in greed or how many physical objects one owns so I don't agree with “national debt” because I honestly don't care about how much money the government has. If anyone has a problem take that up with the first amendment the rule that our country was founded on, which is freedom of religion. With that being said I guess i'll give my opinion for a grade or my grade will drop dramatically.

Our political system has thought of a few ways to readjust the wealth gap. With raising taxes be one controversial issue and raising minimum wage being the other. If you look back at the great depression of 1929-1939. A big cause to it was that “by then, production had already declined and unemployment had risen, leaving stock prices much higher than their actual value. Additionally, wages at that time were low,”. I see this as the wages being so low that the money could not be re distributed back into the economy and the rich would have all the money and the poor witch at the time was the majority of the population.

And all the money at the time was at a stand still. Because people were getting paid so little and the remaining business owners had all the money and nobody was getting employed because only a few businesses could get loans from banks. So I think if we would get more jobs it would boost the economy and we could also ship more things to other countries for extra revenue giving us a major boost in our economy and lowering the national debt.

The other issue is raising the minimum wage to 15$ an hour, And I myself agree that it should be put into action. But states have agreed to gradually put the action into place so it isn't such a drastic change to the market, Economic Policy Institute says in there February 5th, 2019 article  “Raise the federal minimum wage to $8.55 this year and increase it over the next five years until it reaches $15 an hour in 2024.” I think that would be alot better than a straight raise to 15$. America would pull a muscle. 

On the other side it could turn bad in the US because raising the minimum wage means people get laid off, Hours get cut, and inflation comes into effect making prices higher than before much like in the Washington Times Article written on Monday, January 21, 2019 By Rachel Greszler. “To pay higher hourly wages without running in the red, most businesses will have to raise prices (which can lower business volume) or cut costs. The latter is done through layoffs, reducing workers’ hours or benefits, raising prices, or forgoing investments in the business. None of those things is good for workers or the business’s long-term success.” So either way you do it it could be a risky move for the US and its economy. And that is why politicians are making this one of the more controversial topics today.



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