Our generation now carries a $700,000,000,000 burden; a burden which will greatly influence our lives. Last week congress passed a bailout plan which gave almost a trillion dollars to failing mortgage companies. These companies gave out loans at high interest rates to homebuyers, and when the economy slid, they could not pay their loans back, which in turn forced these companies into bankruptcy. The bankruptcies were caused by mismanagement and greed inside huge corporations. When Congress passed the bailout, hardworking American taxpayers footed the bill for corporate greed. This should not have happened; Wall Street messed up, they should pay the price, not us.

The 700 billion dollars builds on our already monstrous national debt. The bailout was a quick fix; it only delays a major problem, a problem that our generation will have to deal with. The effects of this looming debt are already being felt. The American dollar is depreciating in value compared to foreign currency, which makes travel and importing more expensive. The stock market is failing, and the job and housing markets are poor. When it comes time for us to buy houses and find careers we may run into trouble. Loans for college and other things will be more difficult to obtain, and if obtained, to pay back. The debt will make many things in our lives more difficult than they have to be. With a sluggish economy, there will be fewer opportunities for us during and after college. These are the prime years of our lives, but don’t count us out yet; a presidential election is just down the road. With the right leadership, polices, and dedication to America and its people, the right man could turn this country around and secure a bright future for us. We will have hard times, there is no doubt; but if we buckle down and pay back the national debt our generation and our country will be free of a terrible burden.