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Balancing the Budget has become something the United States can no longer put off doing. We are paying so much money each year just to pay off interest on all of the loans the government has taken. The National Debt is currently hovering at around 7 trillion dollars. Last years debt was 554,995,097,145.45. This debt is just accumulating, and it is going to be up to future generations to pay it off, because the politicians of today do not care. They won't raise taxes, and they will not cut spending because both are unpopular. The United States government pretty much since Nixon has operated under a deficit. Clinton operated three years at a surplus, while also fighting a war in the Balkan's. Since then the surplus has been squandered, and the debt has continued to increase.
The Raines Administration believes we must refocus on working with a balance budget, and once again creating a surplus. We have huge debts to pay back, and the compounding of interest is killing us. The government will operate far better once the debt is paid back, and we don't have to pay off interest every year. Also another reason we need to balance the budget is the simple fact that we are taking from Social Security. The United States government has made a habit of borrowing from Social Security to pay for its budget deficits. The budget can be balanced once more, but we must refocus, and dedicate ourselves to doing so. |
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