Understanding Your Debt Vs Nation Debt

The new American dream seems to be having more debt than savings. No doubt, too much of debt is dangerous and detrimental but it is an unavoidable thing. But besides all this talk we expect the national debt to be balanced always and paid off soon. It is not such an easy thing to accomplish. The laws and its makers are difficult to understand.

The indebtedness of the government costs tax payers millions of dollars. Many countries value their financial situation based upon the dollar. This is because American economy is greater than that of many other countries and stable. National debt is risky as the government has to pay money to many banks.

 

This becomes costly as noted before on the backs of Middle America.

Even every new administration proclaims that it knows how to come out of debt whereas it does not know how to balance the budget. Problems galore will drop up if the balancing act is not done properly by the individual. He would land in jail by defaulting for about two to three months.

 

The power of the people

It is the duty and responsibility of every American to demand change and vote for change in Washington. People still do not realize that unity is strength as well as power. The voice of people is the voice of God. People in Washington will hear the voice of people.

 

The national debt is as difficult to disappear as that per individual debts. Each voting generation should think of the cost of a national debt. People have to bequeath to their children and grand children which requires planning and saving.

 

As Americans we are leaving our legacy of more debt heaped upon old debt. Consider this on the eve of Election day. Serious candidates should have the national debt as their top priority. Our elected representatives should know where one stands. If the candidates don’t listen, vote for a different person. As an individual consider how to pay off the debt. If your own house is in disorder you cannot stand on your own legs.

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