Efficient planning to reduce Americas debt

Infographic by Cole Lebourgeois
Infographic by Cole Lebourgeois

Every presidential candidate and president talks about the national debt and how they will fix it, but in reality they actually add more to it than lowering it.  America’s $19 trillion debt needs to be fixed and the government needs to lower it.

Debt in America has always existed, no person or president started the debt of America.  Presidential candidates and presidents all want to lower the debt or somehow fix it regardless of the party they are in.  Donald Trump, a presidential candidate, has proposed a tax reform that aims to help the debt, while Bernie Sanders, presidential candidate, wants to raise taxes on the richest and by doing that he believes that could lower the debt.  But simple strategies such as bonds, lowering interest rate and spending cuts have helped reduce America’s national debt.

The U.S national debt will always continue to rise at different rates, we can only reduce the rate at which it goes up and possibly stop it from rising.  Even if the government does make it go down, we are so far in debt that it would take several years to pay it off and at some point during that period it will rise once again.

The national debt as a percentage of GDP has spiked in the last several of years, rising from approximately 35 percent in 2007 to nearly 74 percent in 2015.

— Harvard Study

Implicating and maintaining low interest rates is an effective strategy at stimulating the economy and generating tax revenue, ultimately, reducing the national debt, according to Investopedia.

As the debt continues to rise experts explore many methods to lower the debt.  One thing they think that could possibly help is controlling the growth of health care spending in the coming years.

According to a Harvard study, the national debt as a percentage of GDP has spiked in the last several of years, rising from approximately 35 percent in 2007 to nearly 74 percent in 2015.

Not only is the national debt raised only by spending, but also by every president.  Each president, no matter what party they belong to, will most likely have a plan to improve America and it’s people too.  But those plans are not for free, they usually require a large amount of money to make it happen.

According to useconomy.about.com, president Barrack Obama presidency increased the debt the most dollar-wise and added about $6.463 trillion to it in seven years.  That $6.4 trillion included a economic stimulus package, extending unemployment benefits and funding job creating public works projects.

For the time being the national debt and federal spending shows no signs of slowing down or stopping.  However, the government is looking into ways to balance out the debt.  By doing cuts it would spur economic growth around the government.

According to downsizinggovernment.com, policymakers should downsize every federal department by eliminating the most harmful programs.

In the end, America needs to do something about the national debt before we go any further into debt.  In order to do this the government needs do less spending on things that will not have a long term effect on America.  Lastly the government needs to come up with efficient plans that will help reduce the rate of the debt.