Reduce Spending by the Federal Government
This petition had 27 supporters
With the federal debt at over $17 trillion, students and friends of Belmont University want Congress to address the growing spending by our federal government.
Instead of reducing the deficit, we want to reduce the debt. A federal deficit is the difference between what the government takes in and spends in one fiscal year. The federal debt is the accumulation of these deficits.
According to the Congressional Budget Office projections, our federal debt will increase to over 100% held by the public by 2038.
With increased debt, Americans will see higher taxes, decreased social programs, increased interest payments, and increased medical expenses. The Millennial generation, including current college students, will be burdened with much of the debt that is accumulating right now.
We are calling for a bipartisan solution to this issue.
Debt as of January 20, 2014: $17,336,993,960,000
Interest Payment for 2014: $38,778,413,015
For more information, please visit these websites:
- Peter G. Peterson Foundation - www.pgpf.org
- Treasury - www.treasurydirect.gov
- Up to Us - www.itsuptous.org
*At the end of the Up to Us competition on federal debt awareness, Up to UTK's petition will be combined with Up to Belmont's petition and sent to our Tennessee Representatives and Senators in Congress.
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