“Ten Trillion and Counting,” presented by Frontline provides quite a picture of America’s national debt as it surpasses the trillion dollar mark. They ponder the financial well being of current and future retirees while also exposing on how America got into this mess, and what the Obama administration plans to do during his term. America is able to close the gap year to year in its national budget by selling bonds and T-bills. Foreigner countries who continually purchase these obligations are beginning to grow. Much like the Bush administration, the Obama administration has started borrowing big with plans to cut the budget years down the road. It is clear for anyone to see that this borrowing and the future promises of cutting cannot go on forever, but it seems quite difficult to predict when and how it will all end.
It all began way before the Obama administrations when Bush was in office. The financial system was frozen meaning there was no credit and the unemployment rate was likely to hit double digits by the end of the year. This was the worst picture America had seen since World War II. It is clear in the United States we want all these things free but we want to also keep our taxes low, and Bush did just that. When Bush came into office Bill Clinton had left the office with such a surplus our economy was strong and with such a strong economic surplus Bush felt as if he need to give some of that money back to the ones who had earned it by signing to cut taxes each year. Unfortunately after this bill was signed America was pushed into two wars, in this time taxes should have been raised so future generations would not be left with the bill. To make things worse, Medicare D passed by five votes, with a projected cost of $8 trillion dollars. This bill allows for subsidized drugs and is more expensive than war in Iraq as this bill goes on forever and war must