he bottom noting that the minimum amount due is $20. The kid gets really happy and tells himself he knew he did not need to worry. However he did not read the part that said there was 25% monthly interest charge and a $15 monthly finance charge. Paying with just the minimum balance would take years to pay off the debt not to mention all the added cost he would have to pay in interest. . That persons frivolous use of the credit card has led him to financial disaster. That crazy teenager with a credit card can be seen as the United States who went all out at the beginning of his credit history and ended having to pay a tremendous amount of money. B. WarsThe roots of the National Debt can be traced back to the United States involvement in warfare. Throughout the history of the United States we have been involved in more then a handful of wars. The United States also acted as a big brother and aided countries with both military help and financial help. Where did the United States get money to help all these countries? They borrowed money, of course. They increased our National debt. C. Governments poor social programs and lavish lifestyleVarious spending policies have contributed to our current deficit and debt problems. For example much of the waste that the United States is accounted for comes in the form of subsidies and lop sided financial agreements. The government spends billions subsidizing farmers by forgiving billions in loans, buying hundreds of millions of pounds of honey to prop up commercial bee keepers, paying the electrical bills for casinos in Las Vegas, manufacturing fertilizer, producing helium for military purposes, buying land at well over the markets value, selling off huge office complexes it seized as par of the S& L bailout at discount prices, and irrigating the farm land of multimillionaires in Central California. Were you also aware that the “welfare program costs taxpayers $300 billion dolla...
