This leads us back to our domestic issues which have spurred us to sell more and more of our mounting debt in order to continue to finance our expensive programs. In order to finance these programs independently, we would need to pay exorbitant taxes, nearly fifty percent of our paychecks, or we have to decrease our benefits by nearly fifty percent. A combination of the two could be successful, but this would require political acumen, public support, and restraint as a society. As those who are working now, you may feel that by the time this scenario comes about, you won’t be affected by higher taxes. You have paid your dues! But what about your benefits? Would it not be more beneficial to determine what must be cut now from what is truly necessary before the program becomes bankrupt (around the year 2040) and causes lawmakers to slash programs that are costly regardless of the good that they do? Also, it is imperative to consider your children. It will be harder for them to find jobs that pay enough to buy a house or to support a family. They will find it difficult to send their children to college and to pay their health care costs, which are growing at a far more rapid pace than our economy and will continue to do so until reforms are made.

As a college student, I am worried that the market will not be able to accommodate my generation and that this country will be so heavily indebted to other growing nations that my peers and I will not be able to compete and succeed at the same levels that my grandparents and parents were able to in previous years. Will people my age be so crippled by taxes in the future that we won’t be able to own homes, or will our health care costs be so high that we will not have access to the medical procedures that we need? We must make Washington realize that this is a severe issue that cannot be ignored any longer. Also, save your money and encourage your children to do the same. Open a trust fund or a college fund for your grandchildren. To learn more information about this topic and other economic issues that affect our nation, visit http://www.concordcoalition.org/. The Concord Coalition is a non-partisan, grassroots organization dedicated to educating Americans about fiscal responsibility. Please, do all that you can to ensure a sound future for yourselves and for your children.