How to Pay Off the National Debt

As of April 2019, the American national debt is now at about $22.5 trillion. This is a staggering amount. In my opinion, there is no easy solution to the debt, and drastic spending cuts across the board are essential to saving our country. "Almost 70 percent of federal spending goes to Social Security, health care, defense and interest on the debt. Spending cuts will have to come from those areas" (Link).

Democrats simply aren't willing to address the biggest burdens on the American debt, which are Social Security, Medicare and Medicaid. In addition, Republicans need to cut back on military spending. Drastic and difficult reforms to these programs can possibly save the country, but an open mind is necessary.

Chinese Riots and US Debt

Here's a video of Chinese rioting over a disputed island that is also claimed by the Japanese. These islands are valuable, not because of the beautiful scenery, but because of the oil that lies beneath them.

China has also expressed clear warnings over the $1.3 trillion in Treasury bonds that is owed to China by the United States. My experience in China has taught me that most fights in China are started over money and people feeling dishonored by not receiving their money.

In my opinion, the US is playing with serious fire by adding to this debt every year, rather than balancing the budget.

Obama's Biggest Failure

In the below video, President Obama pledged to cut the national debt in half by the end of his first term. He cited the fact that interest on our national debt was more than we spent on education and veteran's health, combined. When Obama became president, the national debt was at $10.6 trillion, and the budget deficit was at $458 billion. Today, the deficit is over $17 trillion, and the budget deficit is at $1.1 trillion. Not only has Obama not kept his promise to "cut the deficit in half." He is on target for doubling it. This is the biggest financial crisis America has ever seen, and it dramatically weakens our country.