“Brought to the world with heavy debts round their necks” – that is the exact descriptions that fits the status of our children today. The Federal government has gone on a borrowing spree that is having a negative impact on the future of the children. Any moral society has the fundamental background that these children did not ask for such heavy debts they are forced to bear because of the inefficiencies in government spending. Our abilities to take appropriate care of our children rests on the ability to guarantee them a good future. At the rate at which the federal government is running budget deficits; that dream may simply come to pass without children and grandchildren bearing the burden of our lifetimes.
Statistics on the rising levels of government deficits are appalling and are indeed a real cause of worry. Since 1969, the government has continually run very high deficits thereby piling up debts on its citizens and future generations. The sad truth is that these debts come along with interests that must be paid on top of the borrowed amount. In fact, it has been pointed out that the federal government is having trouble finding lenders. According to ref “The National Debt currently stands at $13.2 Trillion! And U. S. Treasury Department report to Congress that U.S debt will rise to $19.6 trillion by 2015.” In addition to the above, ref proceeds to expound that “the United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfalls registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.”The years that it will take our babies to fully service this huge debt cannot be approximated because successive political leadership have failed to institute effective economic policies to address this piling debt. The proper role of government debt should only seek to provide critical services to the people and provide investments to the future generations.
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