As we know, the United States National Debt is reaching $39 trillion. It grows more everyday with no care from either political party. A short interview from 2016 involving Donald Trump and a budget expert, Donald Trump said, “Yeah, but I’ll be gone.”
It is almost as if Donald Trump doesn’t care how high the U.S. debt is because he’ll just be gone soon and it won’t be his problem. It is extremely important that we care about our debt and try to lower it because it improves economic growth, and prevents higher interest rates for people trying to buy homes. Although the wealthy may not be concerned about soaring interest rates, I am. I aspire to purchase a home one day, but with inflation and interest rates out of control, my aspirations are not enough to make a down payment
In a recent article the Omaha World Herald could provide, Washington has several paths to a fiscal disaster. They talk about how this debt is making the U.S. a disaster and not taking in what this debt can do to families. The story says, “A gradual crisis would be anesthetizing, rather than an action – forcing, cymbal – crash event that could stimulate recuperative reforms of U.S. political culture. Instead, this culture would become more toxic.”
This is not only bad for the economy but also for families. According to the Bipartisan Policy Center, the U.S. debt is significantly impacting new home buyers. Specifically because it is driving up mortgage interest rates as well as fueling inflation. It keeps the prices of new homes elevated and makes it harder for them to buy.
When did it become okay for our elected officials to suddenly not care about such a massive problem? Trump stated that he simply just won’t be here… but we still will. The problem still lies at the bottom of our feet, and will continue to drag us down further until we’re all barely able to stand up. If something doesn’t change now, who knows what our lives will be like in the next couple of years. Some will be able to buy houses and the less fortunate will struggling trying to make ends meet.
