The George-Anne – opinion
As of today, the US National Debt is quickly approaching $19 trillion, which is actually higher than the annual GDP of the entire country.
If the elected officials in charge of balancing the federal budget were to be critiqued in a business-like context, whether in terms of a large corporate structure or even something as simple as balancing a checkbook, they would be subject to mass scrutiny for denying the most basic rule of business: to receive more than you spend (or at least as much as you spend).
As our government continues to spend more than it receives, it must also continue to borrow money in order to make up for those deficits.
The debt accumulated by the U.S. federal government is of grave concern to the American people because the government hasn’t operated with a surplus or even a balanced budget in over 14 years, and this perpetual state of indebtedness is particularly catastrophic when considering the acquired interest on that ever-increasing debt.
In 2015, the fed’s final costs totaled $3.7 trillion while receiving only $3.3 trillion in return from taxpayers. For a different perspective on the aforementioned interest problem, 6 percent of the budget for the fiscal year was delegated to paying interest on American debt, while only 4 percent of the budget for the fiscal year was delegated to education.
Our politicians were either forced to prioritize paying off interest on debt because of their own financial irresponsibility or they actually believe that education is not important enough to merit a significant portion of the budget.
Government budget plans are proposed to Congress by subcommittees that represent the various public sectors, and their proposals are shoved into intimidating bills (in terms of length) that speak in vague generalities about the state of the economy and the need for fund approval in order for the government to continue to function.
Individual allocations of …