I believe the current national debt will adversely impact the quality of life for future Americans, but it is also impacting some of us now. I think the amount of debt we have is a huge failure on our governments part given the fact that we actually had extra funds in the past.
I do think the debt will continue to grow and we will live well into the future with it. I don't think it will have that much of a negative effect on the future Americans because we have lived with debt for many years in the past and have survived it.
The debt and deficit are two things that are largely blown out of proportion. Even the notion that they devalue currency. Economics are a house of cards, and debt is one of the ways it has to be played. If a country is in debt because they are spending on good things, this is a positive.
The national debt is a serious problem that warrants attention, however it is getting better already. The budget deficits that contribute to it have been declining for years as spending goes down and tax revenues go up. As the economy continues to improve, the debt will eventually come into a manageable level and not overly burden the nation so much as to destroy standards of living.