The National Debt

The U.S. Government debt is now 94% of the nation's national gross product. That is 94% of our national income, and at the rate we are spending money, we will soon be a bankrupt nation like Greece. They say a big part of the problem is social security. The reason social security is in trouble is because our government that is our congress, has been using social security money for all kinds of pet projects. Some of which were probably good projects but they should have gotten the money to pay for them somewhere else other than the social security fund. The seniors paid that social security money to be used in their old age and that is all it should be used for.

The social security could still be easily fixed by raising the age bracket and raising the amount of income individuals would have to pay social security on. That way people with large incomes would be paying in more. They would also get larger payments. But with our present tax on social security we would recapture a lot of that. Right now many of the large company executives that get big bonuses in stock options that were in depressed prices and now have gone up are making millions and billions. An increase in taxes on those high incomes is what we need to get the country on a paying basis. That is not apt to happen because we have too many big money people making our laws. They are taking care of themselves and their rich friends that are putting up the money to keep them in office.

Of course, if we could find productive jobs for the 9.7% of the people that are out of a job, they would be paying taxes and that could bail the government out.

There's no way we can keep spending more than our income and survive very long.