> SOUTHERN INDIANA — Normally ticks of a timepiece are heard and not seen. Not so at usdebtclock.org. $16,051,659,298,987.

As of 2:27 p.m. Sunday, Sept. 23, that’s the amount of the U.S. national debt. Within several minutes after writing this number, the amount has already increased by $2 million. I wonder what it will be by the time you read this column.

If you watch the screen long enough, the twitching numbers may make your head start to spin. Or perhaps the physical maladies come from the knowledge of what this figure actually means.

America is treading alongside a dangerous precipice. Financially we’re headed for trouble. Most of us know this. Some debt is fine, and in many ways beneficial to governments and individuals alike. But, you can’t continue to accumulate high amounts of debt and maintain a sound financial system. Eventually, the interest payments become too much to bear, and the entity defaults on the loans. For regular folks, people may file for bankruptcy. But there’s really no bankruptcy proceeding for nations.

So when will the U.S. fall into the abyss? No one knows for sure. Speak to different analysts and each would give you a different number. But most will agree that something needs to change in order to maintain fiscal solvency in the near future.

Currently, our national debt is more than the amount of money the U.S. economy generates in one year. In other words, our gross debt to GDP ratio is 104.49 percent. To give you a point of reference, China’s external debt to GDP ratio is 10.95 percent, Brazil maintains 21.16 percent and Saudi Arabia retains 20.68 percent.

Funny I should mention China. If you listen to several political pundits, you would think that the People’s Republic owns the majority of this debt. Not true. As of July 2012, China holds roughly $1.16 trillion of our national debt; down from $1.31 trillion a year before.

While China and Japan comprise the top foreign debt holders, Americans and the U.S. government actually have been loaning out the money to, well, ourselves. According to an article written by Greg Wilson for Foxnews.com, “fully two-thirds of the national debt is owed to the U.S. government, American investors and future retirees, through the Social Security Trust Fund and pension plans for civil service workers and military personnel.”

Let’s put this amount in layman’s terms. If, say, we wanted to pay off the debt today, each citizen would need to contribute $51,051. Single out just the taxpayers, and each would need to give $140,324 to obliterate this monstrous liability.

Whose fault is this that we’ve reached such a dangerous situation? Republicans will blame Democrats, and of course Democrats will point their collective finger at the GOP. In all honesty, Americans should blame both. Neither has reigned in spending on their preferential programs, nor have they been able to agree to taxation measures that might lessen the burden of debt. Both parties are scared to offend their bases.

And that’s why the presidential candidates speak so little of the debt crisis. It’s not a feel good issue. In almost every plan, someone will lose out. Look at the three main programs where the government spent the greatest percentage of their money in 2012; defense 24 percent, health care (Medicaid/Medicare) 22 percent, and pensions (Social Security) 22 percent. Who wants to cut spending on a soldier risking his life in Afghanistan, or a 90-year-old diabetic who, despite working hard for 50 years, cannot pay for life-saving medication?

Yet, if we are to reign in our expenses, each of these programs must face some cuts and changes. Government must go in and evaluate the cost-saving measures and their impact on everyday Americans. Everything must be assessed.

Likewise, our system of taxation must be examined. Currently, the code consists of more than 71,000 pages. That’s insane. Due to the complexity, too many corporate loopholes exist so that some are not paying their due share. A simplified tax code would help negate this problem by providing fewer opportunities for backdoor exemptions. In addition, like with the spending cuts, all options should be considered.

Will our government find a solution to our debt crisis before the precipice is reached? I’m doubtful. Too often, our elected officials have become more concerned with their re-election chances than with what’s best for America. As I said before, solving this problem will take political leaders instituting some unpopular policy decisions. No one wants to offend their constituents, or worse yet, their contributors.

Political self-interest dictates our lives in the nation’s capital. Not many elected officials honestly want to stop the cash cow of Congress.

Yes, like a bomb in the final stages of detonation, the ticks of the national debt clock inch closer to financial uncertainty. Why does it feel like all we can do is sit back and wait to hear the explosion?

— Amanda Beam is a Floyd County resident and Jeffersonville native. Contact her by email at hoosiermandyblog @gmail.com or visit her blog at HoosierMandy.com.