Exemplification Essay: George Washington's National Debt
$19.3 trillion dollars. That’s the national debt. And before I even say this number out loud it will probably have risen hundreds of thousands of dollars. Maybe even millions. The U.S has about $66 trillion dollars in overall debt and even for the most powerful country that’s got to knock you down a notch. Indeed the next President has an abundance of problems to solve, but to even think about solving them he has to find money, which with -$66 trillion dollars on his belt is about as easy a trying to escape a house of mirrors. At some point people have to start wondering “ How did we get here?”. Most people would start small, but no not the U.S. American debt first surfaced during the Revolutionary War in 1776. George Washington borrowed $75 million dollars to pay for the war and Its casualties. But, even though he was able to pay it back, in doing so he knocked over the first domino in a row of many. George Washington took the easy way out; by printing more money and borrowing from
…show more content…
People are pointing fingers at Obama and president George W. Bush. Indeed it is true that since Obama has been in office the debt has increased nearly $10 trillion, with the original debt in 2009 being $10.6 trillion. Also Obama Care takes up about $110 billion dollars alone, but Bush also has some faults. The tax cuts of 2001 and 2003, where Bush had the rich pay little to no taxes leaving the economy in shambles. Money the government put into society was not making its way back, the working poor and middle class don’t make much money as is, and the number of people unemployed was just costing the government more money. Not to mention the wars Bush funded in Iraq and Afghanistan that cost us another $1.3 trillion in borrowed money. All in all each and every president has made a mess of today’s society, but is the U.S really so far
People are pointing fingers at Obama and president George W. Bush. Indeed it is true that since Obama has been in office the debt has increased nearly $10 trillion, with the original debt in 2009 being $10.6 trillion. Also Obama Care takes up about $110 billion dollars alone, but Bush also has some faults. The tax cuts of 2001 and 2003, where Bush had the rich pay little to no taxes leaving the economy in shambles. Money the government put into society was not making its way back, the working poor and middle class don’t make much money as is, and the number of people unemployed was just costing the government more money. Not to mention the wars Bush funded in Iraq and Afghanistan that cost us another $1.3 trillion in borrowed money. All in all each and every president has made a mess of today’s society, but is the U.S really so far