National DebtTalk of the national debt has been in the news a lot over the past couple of years. Now it is in the news everyday with the 2012 presidential election getting ever nearer. Both candidates, and their respective parties are spending a lot of time blaming each other for the national debt which just surpassed 16 trillion dollars.
What politicians fail to understand is that Americans are no longer falling for their rhetoric. Most everyone of voting age understands that both parties have a great deal of blame to take when it comes to the national debt. Both parties have spent more than their fair share of our money and passed many budgets, bills, and other pieces of paperwork that are continually putting our nation deeper in debt.
One of the biggest problems with the national debt is that politicians are always trying to cover up the truth of the matter. There are many things that go into figuring the national debt. If you look at all of the components of the national debt it is much worse than 16 trillion, some experts say that the actual debt is closer to 211 trillion. What these economists are doing is looking into the future and taking into account the bills our government will have to pay. For instance, soon our government will be paying out nearly 3 trillion a year in social security to pay for all of the baby boomers that will soon be drawing benefits. The government will also be paying out more in Medicare and Medicaid payments as well.
There is another huge elephant in the room that politicians are ignoring, and that tells about the sad state of our economy and the lack of confidence other countries around the world now have in our country. For the first time in many years the World Bank is considering removing the dollar's status as the reserve note of monetary exchange. I am not an economist, but I do know if this happens many things will change for our country. One of the biggest problems this will cause is that our country will no longer be able to borrow money. Where will we be when we can no longer borrow money from China to pay the interest on the national debt?
Another thing has happened that has not happened for many years. Standards and Poors recently dropped the nations credit rating from AAA to AA plus. They did this even though congress had just passed another bill to again raise our debt limit. Usually when congress does this S&P will not drop the nation’s credit rating. This shows that S&P has no confidence in our government. By going ahead with the downgrade they are telling the people that they do not think that the government has the ability to get their fiscal house in order anytime soon.
The bright side to all of this national debt talk is that the people of this country can truly change Washington. If enough people were to get mad enough, and set aside their political affiliations things could be changed. All we need to do is send new people to Washington. Just vote out any and all incumbents, and vote in whoever is running against them, no matter what party they are. Really, party affiliations are antiquated, all politicians are alike, they are more concerned with lining their pockets, and voting with lobbyist and big business more than they are concerned with the people that have put them in office.