elmo-national-debt-gdp-2

Dear Next President,

 

The economy is crippling our country and its people. There are many factors that contribute to this, like unemployment, GDP, industrial production, and many others. However, the vital factors that limit our economy to grow and help voters is our federal debt and its mismanagement of the federal budget. They are the most decisive elements that affects our country’s growth and citizens’ prosperity because it limits our spending to other sectors that are rely on the government and help citizens like education, welfare, healthcare, social security, and research, while it increases our debt.

 

We need a more thoughtful leader who plans out the spending of the federal revenue and wants to eliminate the federal debt. If we don’t have a leader that brings this change, then we will have less money spend for our citizens, while we create unnecessary loans to different banks and countries and towards causes that citizens don’t want. As the debt accumulates, it will cause another government shutdown, which no one wants. This will also affect other countries in the world, especially to the countries that we owe money to, making it tough times for the world.

 

Speaking of citizens, many people are suffering at the moment because of the national debt and failure to regulate the federal financial plan. The national debt created cuts towards many federal agencies with millions of people affected. The improper management of the federal budget created a cut in education by $1.1 billion, making 1.8 million disadvantaged students, losing 4000 schools, and evict 15000 teachers and aides from their jobs. Along with education, Social Security funding was cut as well, causing 597 office closings since 2010. The US Department of Health and Human Services received budget cut of half their amount, increasing the poverty rate to 15%. The list of the cuts in each department continues along with the number of people, while the debt continues

 

However, the government spends on superfluous causes like the military and private corporations. The military budget is sufficient, being 53.71% of the discretionary budget as of 2015. However, the government still spends on causes and wars that aren’t related to any of the problems currently, like Afghanistan and various ethnic wars. Private corporations receive a big profit from international sales, meaning that they don’t need any money for the well-being of the company. Despite this, the government invests more money and loans towards these factors, while cutting from the budget for the citizens in need. Also, This is unfair for the recipients who get some funding from the government to alleviate their lives, whereas the government is mishandling the money, creating a bigger debt and neglecting the citizens in need.

 

The citizens won’t be the only one affected by debt accumulated from the inability to control national financial assets. The world will also be affected. The money that we borrow from China, Japan, other countries, and private corporations would cause a freeze in the global economy. As the top country falls, others will face the dire consequence of global trade collapse and fall with us.

 

Being president of the United States comes with great amounts of liability. There are other issues that need to be solved other than this one, and as president, you can’t achieve all of your goals you have on your agenda. But one of the goals you must achieve is finding a way to reduce the national debt by reducing unnecessary funding and trying to decrease the national debt. The people should always come first, especially their well-being before anything else.

 

CC BY-SA 4.0 The Daunting Debt by Joseph is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

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