REDUCING THE DEBTOur national debt has swelled to over eleven trillion dollars. On average that means that every American man, woman and child would have to pay $36,000 to cover the debt that our government has racked up on our behalf. While we are dependent on the Middle East for our oil, we are dependent on China for our capital. Neither scenario presents a positive outlook for our future. Making the capital crisis worse, much of our national budget depends on income from social security taxes, as social security currently takes in more than it gives out. As more and more people qualify for social security, this cushion will disappear. The resulting debt burden will stymie any opportunity to grow our prosperity.
In order to combat our dependency on foreign capital and create opportunities here at home, we must rein in our spending. Our first priority must be to stabilize social security. This can only be accomplished by banning the use of social security funds for anything other than social security. Only then will our nation be able to fully recognize our capital crisis.
Stabilizing social security, however, will only allow the American public to see just how severe our debt crisis has become. We must also show the American public where we are spending our money. There have been innumerable stories over the last three decades spotlighting wasteful government spending, yet our government continues to spend wastefully. Part of the problem is the lack of a centralized base of knowledge for our federal budget. We must provide the American public with an easily accessible, understandable system that details where our government spends our money and specifically where the money is allocated. Once we have the opportunity to review the way our government spends money, we can monitor spending to ensure that we are utilizing every dollar to effectively create and extend opportunities for all of us.
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