Inequality will continue to grow between all members of America, whether it be due to: race, …show more content…
Right now, the U.S. treasury department reports that the total national debt is over 19 trillion dollars, a debt shared by the government and all citizens. To place this number in a comprehensible context, just imagine that every citizen has a 60,000$ debt hanging over their head. It is the largest in the world, and is more than the United States profits in one year (Amadeo, “What is the National Debt”). Deficit spending is not economically healthy, but it is done all across the nation. In the near future, the excessive deficit spending will cause the value of the American dollar to plummet, inversely causing an increase in the national debt as well as a rise in interest rates (Amadeo, “Deficit and Debt”; Amadeo, “What is the National Debt”). Economic growth will come to a standstill. By 2021, the interest alone on America’s debt is projected to quadruple to 850 billion (Amadeo, “Deficit and Debt”). This means that in the future citizens can stand to lose several benefits such as Social Security or welfare, excluding the extremely elderly or handicapped, and the government almost shut down from this in 2013 when trying to decide on what programs should be disbanded or what budgets should be cut (Amadeo, “Deficit and Debt”; Amadeo, “Deficit Spending”). Ultimately, this could result in citizens working indefinitely to get by, and everyone would try to find work. The job market would tighten due …show more content…
They can still retire comfortably to their lavish estates, and they can still live a relatively happy lifestyle. They can sit back as the rest of America works to death trying to survive on meager incomes while facing heavy taxation. The next Great Depression will upon the future generations of America, and we will have to resort to being fed from the hands of the weakened government or the strong extremely rich. The extremely rich will be able to pull the strings for a puppet government. The richest Americans will be able to prey upon the poor and twist fellow citizens for their own personal gain and benefit. Eventually, the poor will strike out as America descends into economical hell, and it will reverberate throughout the nation. The nation will become weak and susceptible to outside threats, America will no longer be a superpower, and become a laughing-stock around the world as a