Government: Politics Of
National Debt Management

It has been stated over and over again that America is currently experiencing the worst economic crisis since the Great Depression. That status places all of its citizens in a precarious situation of finding solutions to the ongoing problems. The politics of determining how to resolve the economic divide between the Haves and the Have-Nots (rich and poor) makes finding government solutions complex, which causes the gap between the two groups to widen. The ability (or inability) of our American government to manage the National Debt impacts the economics of its citizens.

Bridging the Economic Divide is exacerbated when unemployment and inflation increase simultaneously. Government funds are appropriated specifically for providing assistance to the poor, disabled, immigrants, minorities and other target groups. However, these federal, state and local set asides provoke much controversy even in 2012 because of the difference of opinions regarding the sources of income that must be tapped (in other words - taxed) in order to accommodate these groups. So, the government must be able to properly manage its own debts in order to effectively help citizens manage theirs.

What’s the solution to the Economic downturn and bridging the divide? There are various ways to change the status quo, but there are just as many disagreements about what’s the quickest and fairest way to do so. Some politicians suggest that the wealthy should be taxed more in order to help the less fortunate, some think that the wealthy should be encouraged via political incentives to open more doors to employment for able bodied citizens, while others feel that the less fortunate should be doing more to create their own sources of income rather than relying on government and private subsidies.

Since education is the key to bridging the gap, many feel that government incentives should definitely include provisions for making sure education, including training, is affordable and offered to those who are unemployed or underemployed in order to qualify for jobs as they are created and made available. This strategy would reduce the tax burden and reduce overall government debt while leaving more money from paychecks in the pockets of all working citizens.

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This Article Published Monday, October 1, 2012