Tuesday, May 15, 2007

When are we gonna stop borrowing money?

This week, we read articles that went more in depth with information regarding Hurricane Katrina. One of these articles addressed the problem with the money (paying for the recovery effort) and talked about how the U.S. is getting their money by borrowing it from foreign leaders. We borrow this money in large amounts and in order to pay it back, the president ends up cutting spending on the social programs that help the people in the United States

1. When do you think the United States should draw the line and stop borrowing the money? How much money in debt do we need to be in order for the President/(Congress) to stop borrowing all of this money?
2. Do you think there is another way to help pay for our debt and to help out in case of disasters?

Kevin K.

The National Debt Clock: http://www.brillig.com/debt_clock/

The Gross National Debt

1 comment:

Anonymous said...

I think the U.S should stop borrowing money, it is becoming excessive. But I don't that will ever come true. The President/ Congress I don't think will ever stop borrowing money right now. Maybe when the president changes and some of congress does too the view of money like water will change. The only way to pay our our debts is to stop spending and make a surplus in the U. S bank account. Also we should stop spending so much money on programs such as the Iraq war. I don't think there is another way to pay our debts.
Emily Betts