John R’s views on the Budget

Posted: June 13, 2011 in Papers/ Analysis

The Debt is Too Damn High

John R

Mr. Bourjaily

AP. U.S. History, Period 3

June 10, 2011

America is in the midst of a debt crisis not seen since that 1940s. The national debt is currently at 14.4 trillion dollars, and is nearing the Gross Domestic Product of 14.7 trillion dollars. Without action, there would be no recovery. However, there is more bickering being done in Legislature rather than creating a bipartisan agreement for a budget that would rescue us from this unnecessary hole we dug ourselves into. We cannot sit idle while people of power compromise our generation’s future because of their inability and/or unwillingness to do what is necessary.

One of the biggest issues that must be faced is the Medicare, Medicaid, and Social Security costs. In 2010, the cost of Medicare, Medicaid, Children’s Health Insurance Health Program (CHIP), and Social Security accounted for 41% of the national budget. In contrast, the spending for education is only 3%. Consider that by 2030, the 65 and over population would have doubled. Current entitlement spending is unsustainable, uneconomical, and unfair for future generations.

Of course, politicians are hesitant. They fear that they would receive punishment from their AARP overlords. They know that cutting entitlement spending is critical to America’s hope for a surplus, yet deny that entitlement spending is a big issue. The AARP has them on a short leash.

It’s time for our generation to stand up and remind the politicians that senior Americans are not the only ones they are representing.

Now then, we can move on to the next issue, Defense spending. Defense spending accounts for 20% of the national budget as of 2010. I normally have no qualms about spending for our nation’s security, but when you wage two wars with borrowed money that you have no idea how you would pay for, there is a serious problem. That is exactly what President Bush did. The total cost for the wars in Iraq and Afghanistan totaled $170 billion in 2010. There has to be spending slashes in defense, now that the war in Iraq is over, and we have to limit our responsibilities abroad so that we can fix our own problems back home.

The longer we wait, the dimmer our situation gets. Decisive actions must be made. Because, quite frankly, the debt is too damn high.

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