Debt and America; Problem Solving Paper

Topics: Theft, Identity theft, United States Pages: 4 (1387 words) Published: November 8, 2011
Problem solving paper
In today’s society almost everyone looks at the news or reads a newspaper and discovers a story about debt that catches the eye. American debt is steadily rising causing the amount of debt to rise to its peak. Numerous Americans are faced with mountains of bills and credit cards to pay off, many of which cannot pay because of high interest rates and low paying jobs. American is currently in two wars that are a drain on the national deficit. Child identity theft and elderly identity theft are the most common form of theft in the United States, child identity theft affects the child’s credit rate before the child is 18, and elderly identity theft is increasing more and more each year. The high unemployment rates and with access to social security numbers and other important information is making it easier for the identity to be stolen by family members. To fix the issue and possibly prevent debt, America needs to create new jobs that can benefit every citizen, lower interest rates, and heighten security for credit cards and all other cards to protect identities. Americas total debt load is on pace to top $13 trillion this year, and $22 trillion by 2020 and that is just the debt we are counting. The first number is the debt held by the public through mortgages, credit cards, and unpaid bills. Debt held by the public today and the money the federal government owes to government trust funds, such as those for Medicare and Social Security. The government has used revenue collected for those programs to cover other outlays. Currently, the debt to the trust funds is approaching $5 trillion. America has been fighting in two wars overseas for an incredibly long time. America has been at war with Afghanistan since October 2001 and Iraq since March 2003. This has never been such an issue or occurred in United States history. The cost of these wars has many estimates, but all begin above 13 digits, which is more than a trillion dollars. It is a burden...
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