Debt: America’s Big Problem

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Category: Sports and Recreation Essay
Subcategory: Professional Sports
Words: 673
Pages: 3
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Document details
Category: Sports and Recreation Essay
Subcategory: Professional Sports
Words: 673
Pages: 3

America and debt today seem to go hand in hand. America is so in debt that things that we as Americans have grown accustomed to now will be eliminated for our children in the future. The biggest challenge facing our countrys future is economic plunge and trying to repay the debt that we are facing and going to face.As of July 19, 2011 123 am, America is in debt by 14,335,035,116,587.93 and increases on an average of 3.85 billion per day since September 28, 2011 (httpwww.brillig.comdebtclock). With the rate increasing on a daily basic, this departmental debt will not only affect Americans now but will be even more of a problem for our children and our childrens children. America is making cut backs on Medicare, retirement plan and rising taxes to help close the gap of debt, yet we are still plummeting in deeper debt.America is facing so much debt right now that projections are being made that in 2020 there would no longer be people collecting retirement aid, in fact America will be so far in debt that our children will still be paying our debt from today and theirs (www.market oracle.co.ukArticle23493.html). Because America is facing so many debt problems, social security, retirement aid will be eliminated in the future to where people that are at retirement age may still be working because they cannot afford to just sit at home. America has been in debt for so long that we have been playing catch up for over 3 decades.The debt is affecting many other things as well even the education in America. Education is becoming so expensive that college tuition is in increasing every year, which then will become a problem for students not being able to pay their debt once they are finished with school. If tuition keeps increasing like it is and the money is still not increasing for people then the debt margin is still going to spread apart. This...

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