The National Debt: Serious Problem or Natural Occurrence?
Many people today do not know much about the national debt. Such ignorance has resulted in the questions "So if it is our debt, we owe it to ourselves, right? Why not just cancel it?" or "We owe it to ourselves, so isn't it no big deal if debt goes up?" Well actually it is not that simple. The money owed from the National Debt isn't just from Americans. 42% of the debt is from foreign investors; 37% of that 42% is owed to Japan. Besides, even if it was 100% American owed, we just can't cancel the debt. That would be like going to the bank, taking out 100,000 dollars, and then telling the bank that you're 'canceling' the debt. Millions of American investors are owed money, and the answer to the debt problem won't be that simple.…
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