Managing National Debt Solutions to prevent an increase in national debt Libby D.

The Problem Currently the United States is 14 trillion dollars in debt and that number is constantly increasing This is an issue that has grown exponentially for the past few years We have already reached the “ceiling” of our debt limit and Congress is attempting to raise it once again We need a solution that will keep our debt in check as we progress toward the future so that our generation does not have to take on this economic burden

3 step solution DO NOT RAISE THE CEILING! Create a lay away fund Create an organization to inspire domestic involvement

DO NOT RAISE THE CEILING! On May 16, the United States reached the ceiling of its debt at 14.3 trillion dollars With the continual raising of the ceiling no solution to our debt issue will ever be reached

DO NOT RAISE THE CEILING! The solution to this problem is to start by preventing all legislation that calls to have the debt ceiling raised in America The next step is to begin a process where we gradually decrease the height of the ceiling Every ten years we decrease the national ceiling by 50 billion dollars Considering how large are funds are we should be able to use this process to gradually decrease the ceiling of our national debt

Create a lay-away fund Our current debt in 2011 is 14.3 trillion dollars The CBO predicts that our national debt in 2015 will be 18 trillion dollars This is a constantly rising problem that could use some help financially to begin paying it off

Creating a lay-away fund The solution to this problem is to take 5 billion dollars a month from our discretionary budget ( billion dollars in 2011) to begin paying off our debts This means that we will be able to have 60 billion dollars a year to decrease the national debt

Create a lay-away fund Using this 5 billion dollars a month will help the national debt projection for 2015 The CBO believes the national debt will be 18 trillion dollars With the decreasing of the debt roof and this lay-away fund the national debt in 2015 could be in a mere four years our debt could go from 14.3 trillion to trillion dollars

Inspire Domestic help America’s economy is based on large amounts of credit and over consumerism This inspires the idea that massive amount of debt is a regular part of society when in reality it is servitude Back in the middle ages people could be thrown in jail at any time by their debtors and eventually our society as a whole could be stuck in a similar situation

Inspire domestic help Create the P.O.D. O – Pay of debts organization (other names may be suggested) This is a company that inspires regular people to stop going into debt individually and can help individual people with ways to pay off their debt Almost like a public health organization that puts up signs and advertisements speaking against going into individual debt

Needs to be solved This is an issue that has plagued America for the past few years In 1999 out national debt was less than 6 trillion dollars and now it has grown to 14.3 trillion dollars If we do not take care of this now our generation will be the one that will suffer for the incompetence of the generation before us