The national debt in America has now exceeded twenty trillion dollars. For years, the American government has spent money much faster than it can pay back its trading partners. Right now, the debt in our country is not affecting our lives directly, but it eventually will of the policies on debt in our government do not change.
The debt ceiling in America is the imaginary limit the debt in America can not go past. It is now ineffective because it is routinely raised. In fact, it has been raised seventy times since 1961. It has also been raised multiple times by each president in office since then. The first step in lowering America's debt is to stop raising the ceiling again and again. The next steps would be to lower government spending and slightly increase taxes if necessary.
With a growing economy, America is in a great position to start tracking the issue of national debt. It takes effort of many to solve this issue, but by taking a few simple steps it can be done.