How the National Debt Crisis Affects My Life Essay Example
How the National Debt Crisis Affects My Life
Today the debate over the national debt crisis has many U.S. citizens concern about their financial future. With our national debt ceiling set at 14.3 trillion dollars, and with debt rapidly accruing, the decision to raise the debt ceiling must be made soon. Although both the Democratic and Republican parties have their own opinions on how to fix the issue, a decision must be made before August 2, 2011. Without a solution, the Treasury would not have the authority to borrow any more money. This means that the nation will be unable to make the necessary payments on debt, and also will result in defaulting on prior obligations. While both Democrats and Republicans debate on what’s best, my worries of financial security and my future goals seem to be in jeopardy.
As I watch the debates on whether to raise taxes, lower taxes, cut social security, or decrease funding, the more my stress levels seem to rise. As an enlisted member of the U.S. Air Force, my financial stability comes from the decisions of the government. The ability to provide food, shelter and clothing for my family is very important to me. Although I’ve managed to save money, it’s not enough to cover the effects of missing a full month’s pay. According to Dr. Alan Manevitz “As Americans continue to face rising gas and food costs, some individuals are actually becoming physically sick from financial worries” (Manevitz, 2008). When there’s no money to fill the piggy banks, I often ask myself “how will we survive”? The thought of not knowing where our next meal will come from sickens me to my core. The stress involved continues to rise as I wait. No one knows at this point what decision will be implemented. Either way, the need for tighter budgets within my internal and external family will need to transpire.
Because of the current events involving the national debt crisis, we’ve been forced to cut back on the things that provide comfort to my family as a
Today the debate over the national debt crisis has many U.S. citizens concern about their financial future. With our national debt ceiling set at 14.3 trillion dollars, and with debt rapidly accruing, the decision to raise the debt ceiling must be made soon. Although both the Democratic and Republican parties have their own opinions on how to fix the issue, a decision must be made before August 2, 2011. Without a solution, the Treasury would not have the authority to borrow any more money. This means that the nation will be unable to make the necessary payments on debt, and also will result in defaulting on prior obligations. While both Democrats and Republicans debate on what’s best, my worries of financial security and my future goals seem to be in jeopardy.
As I watch the debates on whether to raise taxes, lower taxes, cut social security, or decrease funding, the more my stress levels seem to rise. As an enlisted member of the U.S. Air Force, my financial stability comes from the decisions of the government. The ability to provide food, shelter and clothing for my family is very important to me. Although I’ve managed to save money, it’s not enough to cover the effects of missing a full month’s pay. According to Dr. Alan Manevitz “As Americans continue to face rising gas and food costs, some individuals are actually becoming physically sick from financial worries” (Manevitz, 2008). When there’s no money to fill the piggy banks, I often ask myself “how will we survive”? The thought of not knowing where our next meal will come from sickens me to my core. The stress involved continues to rise as I wait. No one knows at this point what decision will be implemented. Either way, the need for tighter budgets within my internal and external family will need to transpire.
Because of the current events involving the national debt crisis, we’ve been forced to cut back on the things that provide comfort to my family as a