"Obviously, there has to be a profound change in direction. Otherwise, interest on the national debt will start eating up virtually every penny that we have"
- Bobby Scott
About this Quote
This quote by Bobby Scott is referring to the requirement for a change in direction in order to prevent the national financial obligation from becoming unmanageable. The national debt is the total quantity of cash owed by the government to its lenders. If the debt is not managed correctly, the interest payments on the debt will consume a big portion of the federal government's budget plan. This will leave little money for other important programs and services, such as education, healthcare, and infrastructure. For that reason, it is necessary that the federal government takes steps to reduce the nationwide debt and ensure that it is managed properly. This can be done by increasing taxes, cutting costs, and executing other financial policies. By doing so, the government can ensure that the national debt does not end up being a problem on the country's finances.
About the Author