Debt Ceiling…What Do We Do Now???
As the United States has now hit the debt ceiling of $14 Trillion Dollars…That’s $14 TRILLION DOLLARS, the United States Government is now deciding on if it should be increased, and if so, by how much. I cannot speak for all Americans, but I feel that instead of taking so much time and effort in trying to come to a compromise on increasing it, why am I not seeing serious talk on trying to decrease the size of the debt. Before we go any further, lets discuss some of the recent history of the national debt of the United States. On September 15, 1981, President Ronald Reagan had signed the legislation that passed in Congress that allowed the debt ceiling increase to $1 Trillion Dollars. Throughout the 1980’s, Reaganomics had led to increases in the national debt. In simple terms, his policies of cutting taxes for the top tax rate, raising taxes for the middle tax rate; which had been done 8 times during his presidency, proved to be a major blow to Main Stre...