The economy is falling slowly, and the government is still spending massive amounts of money on programs that we don’t need. For example, the F-35 aircraft program that the United States is currently working on is costing 1.3 trillion dollars. The development of these fleets cost 1.3 trillion dollars not including the cost of maintaining over a period of years. The government has to stop wasteful spending! Instead of being set back 1.3 trillion dollars on an aircraft that has no use right now. We could’ve invested that money towards programs, such as education, a better healthcare system, and the military. Investing in these programs will be more beneficial to America in the future.
In the past, it was wars and the Great Depression that contributed to rapid but temporary increases in the national debt. Today, it’s the F-35 aircraft program, making improper payments, and spending annually maintaining unused or vacant federal properties (the list is endless). I believe that the government’s careless spending could round us up in another depression, and that’s the last thing America needs.
If the government continues it’s excessive spending habits, there is a possible chance our taxes with skyrocket. Look at the situation like this; government spending requires costly financing. Our government cannot spend money without first taking that money from “someone”. That “someone” is we, the public.
In my opinion, the government cannot tax the public enough to pay off America’s debts. Even if they started taxing everyone ridiculously high tax rates; everyone will probably move to Canadian (hah).
America is said to be one of the greatest countries ever. However, I can’t say the same about the government. I honestly believe our government can’t handle situations tossed at them. In addition, I also believe that bankrupt will be around the corner if the government continues it’s boundless spending on counterproductive programs. So, if the government ever goes bankrupt, we’ll (the public) be in an extremely tough situation (not that we’re not in a tough situation already… hah).
As I was scanning through some of my classmates’ blogs, I found a great article Phi Tran wrote about our government’s unnecessary and excessive spending. Despite America already being in debt, the careless government still continues to spend our tax dollars unreasonably. Our country is ahead in technological advancements; however, it is more in debt than ever before. Instead of bringing the economy up, the nation will always be held back and unable to move on to progress.
ReplyDeleteTran provides an excellent example of how irrational the spending has gotten. For instance, the government spent a total of 1.3 trillion dollars on the F-35 aircraft fleet which is still on-going. As a result, other productive programs like universal healthcare could not be made possible. Our government constantly pays for products and services it never gets, wildly overpays companies to do things it could do itself, loses money due to lax accounting and oversight, and fails to collect what it’s owed. The federal government just fritters away all of our hard-earned tax dollars. Furthermore, Tran makes an obvious point that we have to think ahead for the future of our society. As of our nation’s current financial standings, a depression would most likely be in our cards. In turn, taxes would tremendously rise and the lives of the U.S. citizens would no longer be the same anymore.
The main reason why I find this article very compelling is through the strong tone of the author. Tran gives a very adamant and outspoken point of view which I wholeheartedly agree with.