Currently the U.S. National debt is around $27 trillion dollars, see the US Debt Clock. 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 Corona Virus. Currently, President Joe Biden is pushing for a third stimulus bill that would cost around $1.9 trillion dollars, but Republicans are looking for something less substantial. Also, many politicians 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 political 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?
