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The Pros And Cons Of National Debt

525 Words3 Pages

One day everyone has to retire, for a good amount of citizens depend mostly on Social Security payments to fund their retirement. Moreover, you check to see your next Social Security payment, to your disturbance the document revealed a decline in payments. Consequently, the decline in funding has made retirement difficult; As a result, going back into the workforce is the only way, to sustain yourself. Currently the U.S. debt accumulates to approximately 20 trillion dollars, increasing at an alarming rate currently. No doubt, that if the U.S. continues to increase its debt, then more people will be hurt by it. If the national debt isn't addressed, then a chain reaction of disastrous events in the U.S. will be imminent, government officials possess the power to avert this dilemma. …show more content…

First and foremost, federal budget deficits are “new programs and tax cut adds to the debt”(Amadeo). Furthermore, the social security trust fund is money originally meant for baby boomers, when they retire; The funds were alternately used to loaned to the government to increase spending. In addition, other countries benefit from lending money to America, because in doing so the country will continue to purchase their goods. Consequently one of the several effects that this has on America, will be the cut to retired citizens. Countless elderly will suffer from not possessing enough money to purchase food, medicine, and shelter. In conclusion, a bountiful of other issues will arise if the debt is not put into

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