Should We Balance National Debt? :: Argumentative Persuasive Economics Papers

Should We Balance National Debt?The national debt is a problem that the inviolatecountry has to deal with. The questions is whether or not tobalance it? Morally the answer is yes. We should notleave this burden for our children to solve. If thedeficit was balanced then this country would shake up more cash to spend on other programs such as welfare ormedicare. Fifteen percent of national spending is usedto accept for the current deficit. With another 15% of ourbudget to spend on tax-cuts or other issues this couldcause an economic boom. Some say that balancing the budget is not the rightthing to do. It is said that by balancing the budgetat the end of the fiscal year would cause the g everywherenmentto raise taxes therefore deceleration down the economy. Somealso say that we should not balance the budget becausenone of the countries that have paid for the bonds leave behindnever collect the money owed. They will just let the bonds collect interest therefore we are no t responsibleto pay back the money. This relies on that the bond holders never collect which we do not know for sure ifthey wont. We need to be prepared so if the bond holders docollect we can fullfill our end of the deal and pay themoney we owe. To balance the budget will take years toaccomplish and a little better handling of money than we currently doing. Since the Cold War is over we no lomgerneed to be spending as much money on defense as we have