Category Archives: Economics

National Debt

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I have been concerned about the national debt since I was in high school. Seeing how the debt has increased astronomically since President Bush has been in power, I started pondering which presidential candidate will most likely be the most fiscally responsible. They all appear to want to give “tax refunds” to the American people. This sounds great if you are in the lower to middle class. You get a couple hundred dollars to buy some things you need…or often do not need. In the end, the corporations and upper class end up with the money, because it is spent at stores. Theoretically, this money is then reinvested in the economy rather than saved away by the richest 1%.

I remember the days in the late 90’s when the budget had a surplus. If we had stuck to our guns and paid down the debt, the economy would have become more stable over time. However, since Mr. Bush has been in office, that has not been the case. His policy seems to be spending as much as possible without considering the long-term consequences. As of today, the national debt is $9.2 TRILLION! It was half of that before he went into office, and the budget surplus would have paid off all the payable debt by now. We all know that certain world events have transpired since Clinton left office. However, that is no excuse for what the government is doing. The uncontrolled spending must be stopped, and we must start paying off the national debt.

Interestingly enough, we can actually pay the debt by mailing payments to the following address. I hope this is not a government scam to funnel contributions into defense funds, but I think it is the best way to know where your money is going. Otherwise, it goes into a giant pot for the politicians to spend as they please.

How do you make a contribution to reduce the debt?

Make your check payable to the Bureau of the Public Debt, and in the memo section, notate that it is a Gift to reduce the Debt Held by the Public. Mail your check to:

Attn Dept G
Bureau Of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188

Reference: TreasuryDirect