Essay about Completive Rates or Financial Debt

Paul Ryan, said Obama was failing to address America’s biggest challenge: debt crisis. “He’s making it worse, not better.” Our nation needs financial security. Metaphor ably speaking, when homeowners lose their home to foreclosures it is because the homeowners cannot afford the mortgage. The homeowners are in debt and unable to pay their mortgage. Therefore, financial debt leads homeowners into bankruptcy, repossession, or estate auction. In scenario, United States is stair climbing into debt each year. America has been living above revenue and presently in a financial crisis. The United States government borrows money from foreigners in order to compensate its bills. According to Brian Cashell, “Deficit represents the additional borrowing required in each year to bridge the gap between tax revenues and spending overlays.” Hurst states, “As a matter of perspective, the 2011 budget deficit is forecast to hit $1.65 trillion, the highest on record. Overall U.S. government indebtedness is now $14.1 trillion.” This is an overwhelming debt for the American people. In a political perspective, the United States will lose favor and confidence with other countries that has stood by America in