There are many potential factors that can have an effect on the country having a large overall debt. The debt can or may lead to the country becoming bankrupt. Secondly it can also lead to future federal payout's for Social Security and Medicare alone to cause the National debt to increase higher. These types of federal payout's will rise at a much faster rate than the current tax revenue which will continue to cause the national debt to go up. Many feel also that if we do not get the national debt under control there will be no monies left for the country to be able to fund any future generation federal payout's thus leaving people to have to work till they die...
There are many potential factors that can have an effect on the country having a large overa