This was a pretty good read. The national debt is at about 14 Trillion Dollars. The interest on that debt is something like 6%, or something similar. We’ll pay the interest before we default on debts. The interest is probably not at 6%.
Listening to Morning Joe, the big cuts needs to be made to programs like Medicaid, Medicare, Social Security, and the Department of Defense. No one wants to try championing those cuts because they impact too many people. Wars are expensive. If we didn’t need to project American force by having troops stationed across the world, then we could probably save significant amounts of money, but then we might be dealing with a world that is even more difficult to engage with than it currently is. The “entitlement” programs of Social Security, Medicaid, and Medicare all seem to be good programs, but I guess that people are living longer, and since people have generally retired by about age 65 (when most people are eligable for medicare coverage–I think), people enjoy not having to get up each morning to go into work. I think there are those seniors who do manage to stay busy by volunteering, or through other means. I guess that some people have paid into social security without living long enough to enjoy the fruits of their contributions, but at the same time, there are those out there who enjoy more than they have contributed into “the system.” I don’t think either program will fail tomorrow, but if we don’t try to make corrections, or bring about changes that will eventually affect some groups, there could be serious shortfalls in the future.