Currently the U.S. National debt is around $27 trillion dollars, see the US Debt Clock (Links to an external site.). Most of this debt was incurred under our last three presidents, W. Bush ($5 Trillion) , Obama ($9 trillion), and Trump ($6 trillion). That means that in the last 20 years (likely your lifetime), $20 trillion has been added to our National debt. Take a minute to look at the biggest budget items and the debt per citizen.
In March, President Trump passed the $2.2 trillion dollars CARES Act in response to the Wuhan Corona Virus. Currently, Democrats are pushing for a second stimulus bill that would cost around $3 trillion dollars, but Republicans and the President are looking for something less substantial. Also, the Presidential candidates are talking about Medicare for all, which most experts say will add $30 trillion to our debt over the next 10 years. Furthermore, there has been additional campaign discussion to make college free, absolve student debt, and spend trillions on a “Green New Deal.”
In your opinion, is the debt a problem? Explain. Can/should the government keep spending money and adding to the debt? How can the government pay for all of these policies without raising the debt? In your opinion, what should the government spend money on? What is it wasting money on?
