Debt in the United States has been a dilemma for a long time now. Increasing debts are going to have an effect on the current generation. Debts result in higher interest rates and higher taxes to pay off the debt. People are getting loans and then not being able to meet the monthly payments because the interest is too high. Federal officials predicted that they would raise interest rates by about one percentage point a year over the next three years(New York Times). The younger generation will now have to pay for the consequences because of the poor judgement committed by the previous generations. It is …show more content…
There are too many obstacles that stand in the way and some of them can not be avoided. Generation z will have to grit and grind until more prosperous times because this is the generation that has to fix all the mistakes that were made by previous generations. Those problems include fixing the national debt, unemployment, as well as figuring out the weather to abolish social security or finding a way to somehow make it work. These three things are a major key when trying to become financially stable and being content with what you have. Maybe the next generation will be able to attain the highly sought after American Dream but Generation Z will not due to the handicaps surrounding