Debt Is The Nation s Sensitive Concept - 1325 Words

Buy is a favorable word in the American society, but with every comfortable word comes the least favorite word, debt. In America, the population has accumulated $19.4 trillion in national debt, thus explaining why it is the nation’s sensitive concept. The debt has been collecting significant value throughout the years between various school loans, credit card debt and many more ways to create debt. The average American family owes over $100,000 dollars to the government. Debt is typically created by the different loans needed in order to live comfortable in a highly developed country like America. Every loan received by an individual has an interest rate, which is a percent increase in a specific time frame. With increasing interest rates, debt is nearly impossible to escape. So, what is the cause of debt? Most debt accumulates in early adulthood when finances are less of a concern. The first decision adults are forced to make, even before they are considered an â€Å"adultâ € , is what is their plan after graduating high school. In a sense, millions of high-schoolers every year are forced to decide how much debt they are willing to obtain. There are many options available for graduates such as; military, college, or going straight into the workforce. Many individuals choose a college before determining their future finances. In the past 50 years, college tuition and costs have increased 15%. In 1975, a public four-year university tuition amount was $2,387 now in 2016, the cost forShow MoreRelatedThe Founders Of The American Nation Understood The Idea1254 Words   |  6 PagesThe founders of the American nation understood the idea of federalism as being the tool of protecting the citizen s liberty through such means as controlling the powers of the federal as well as state governments. 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