What Did The Us Get In So Much Debt Essay

DEBT! DEBT! DEBT! How did the US get in so much debt? That is one of the most common questions people ask. So why are we in so much debt? Well there are many reasons why, like, Deficit spending, spending too much money on things we could spend less on, and another reason is borrowing money with interest. So why is the US in so much debt? Well you’re about to find out. Well first of all, deficit spending is an issue that the US has. Deficit spending is when the government spends more money than they earn. If the government isn’t making enough money, they shouldn’t be spending it on stuff the country might not even need. In the article “U.S. National Debt Hits $17 Trillion: How Did We Get Here?” it says, “A government that relies upon deficit spending to grow its economy is like a man who pays for his groceries and his rent with a credit card.” The article is talking about the US. They are saying that the US relies on deficit spending like a man pays for everything with a credit card. Meaning that they are both in debt always. With the US relying on deficit spending every time we need something that cost a lot, that puts the country is so much debt. If you think about it, the government can’t just use
National debt is when the government borrows money. The bad thing about national debt is that the government has to pay it back, and our government is not doing too well on that. The country's national debt keeps getting higher and higher. In the article “6 Important Historical Moments In Our National Debt,” it says, "During less than four years under President Obama's leadership, the national debt has increased an astonishing $5.4 trillion.” That is saying how the national debt just keeps getting higher. The national debt increases because the government spends too much money on things like, health care, defensive budget, and social security. Those are the top reasons behind why the national debt is so