What Did The Us Get In So Much Debt Essay

DEBT! DEBT! DEBT! How did the US get in so much debt? That is one of the most common questions people ask. So why are we in so much debt? Well there are many reasons why, like, Deficit spending, spending too much money on things we could spend less on, and another reason is borrowing money with interest. So why is the US in so much debt? Well you’re about to find out. Well first of all, deficit spending is an issue that the US has. Deficit spending is when the government spends more money than they earn. If the government isn’t making enough money, they shouldn’t be spending it on stuff the country might not even need. In the article “U.S. National Debt Hits $17 Trillion: How Did We Get Here?” it says, “A government that relies upon deficit spending to grow its economy is like a man who pays for his groceries and his rent with a credit card.” The article is talking about the US. They are saying that the US relies on deficit spending like a man pays for everything with a credit card. Meaning that they are both in debt always. With the US relying on deficit spending every time we need something that cost a lot, that puts the country is so much debt. If you think about it, the government can’t just use
deficit spending without paying all the money back. That is one of the ways we are in so much debt. Secondly, the government is in so much national debt.
National debt is when the government borrows money. The bad thing about national debt is that the government has to pay it back, and our government is not doing too well on that. The country's national debt keeps getting higher and higher. In the article “6 Important Historical Moments In Our National Debt,” it says, "During less than four years under President Obama's leadership, the national debt has increased an astonishing $5.4 trillion.” That is saying how the national debt just keeps getting higher. The national debt increases because the government spends too much money on things like, health care, defensive budget, and social security. Those are the top reasons behind why the national debt is so
large. Another reason why the US is in so much debt is that the US spends too much money on things that could be a lot less expensive. The US spends a lot of money on things like, Health Care, Social Security, the Military, and so many more. Yes we need all those things, but the government doesn’t need to spend all that money on them. In the article “U.S. National Debt Hits $17 Trillion: How Did We Get Here?” it says, “While this “buy now-pay later” attitude may work for a while, eventually the bill comes due. And when it does, it is often painful.” This is the way the US is thinking and feeling. The US buys stuff but then later realizes that they need to pay for it? Where are they getting the money to pay back for what they had bought? There are so many questions about the US and their debt, and sometimes they’re aren't answers. As you can see, the US is in some serious debt. All the problems like deficit spending, national debt, and spending money on stuff we could pay less on, are ways the US is in so much debt. How did the US get here? Many people have different opinions on how we got in so much debt, but honestly the US just isn’t smart with their money. DEBT? DEBT? DEBT? Is the US ever going to get out of it?