There are many things that are fundamentally wrong with the US economy. Indeed, the warning signs are everywhere. Politicians are more worried about elections than real problems. Voters are more concerned about whether gay people should be allowed to marry, rather than solving the problems that affect us all. Meanwhile, the economy sinks deeper into despair. One of America's biggest problems is the ever-growing mountain of federal debt. Investors say that in some cases debt can be a tool to make money. However, critics argue that the United States has misused its debt. Politicians have said that the budget deficit is decreasing. However, history shows us a completely different story. Treasury Department data show that total debt outstanding as of September 30, 2001 amounted to nearly six trillion. Ten years later, the debt has risen to nearly nine trillion dollars. This is an overwhelming increase of over three trillion dollars. This country has also seen an explosion of debt at the household level. Some have suggested that our higher standard of living is actually due to debt, rather than higher wages. The American dream has become “borrow money, spend money, and hope to pay it back tomorrow.” In fact, wages for the average American worker have remained stagnant for the past six years. Their salaries reflect a simple increase of just ten dollars a week, taking into account consumer inflation. On top of that, American savings are significantly lower than in years past. All it takes is one hard-hitting financial crisis and the average American family is in big trouble. The trade deficit is also a growing concern. As a nation, we consume a lot more... half as much paper... to solve the debt crisis, both at the federal and household levels. And Americans should be taught how to save money when times are good. And for heaven's sake, we don't borrow money for everything! Works Cited • Barnett, Tracy. “The 5 fundamental problems of the American economy”. The Agonist (2011): 1-3. 12-20-2011 .• Carnia, Catalina. “Romney defends records, Obama bets on economy” USA Today (2011) 1-3. 20.12.2011. http://content.usatoday.com/communities/onpolitics/post/2011/12/mitt-romney-fox-news-sunday-barack-obama-/1• The editorial team, Economicshelp.org (2008) Tuesday January 15, 2008 http://econ.economicshelp.org/2008/01/what-went-wrong-with-us-economy.html • Wolf, Richard. USA TODAY (10/28/2011) http://www.usatoday.com/money/world/story/2011-10-27/eurozone-crisis-deal/50963370/1