Premium Essay

America's Budget Path

In:

Submitted By Djphf
Words 1910
Pages 8
“America is on a dangerous budget path. Current spending and debt are dangerously high, and future spending and debt are on track to rise even higher in large part due to the increasing entitlement spending” (Boccia, 2013). As recent as February of 2014, congress has decided to yet again raise the debt ceiling for America, this time capping the limit at $17.2 trillion dollars. This marks the fifth effective increase in the debt ceiling since August 1, 2011, when it was $14.3 trillion (Sahadi, 2014). If America continues to raise this limit, how is the debt crisis that our nation is currently experiencing going to affect our businesses; and more importantly, us as individuals in future years? The issues that need to be addressed to see where the root of this problem starts, and where the solution can be found starts with looking at the events other countries have or are currently facing, and how they have come up with strategies to solve their debt crisis. From there we need to focus on the economic trends that we are currently in, and the negative and positive effects that they are having. The effects that will be discussed are how creditors view America, how it affects businesses through prolonged drag and economic growth, and how it will affect the individual with inflation and increase in taxes. As this paper addresses these issues, it will reveal the scary truth of the tolls that will be put on America if they continue with their dangerous budget path. “The warning bells were sounded in early 2009: The U.S. government had to act swiftly and forcefully to avoid repeating Japan’s painful experience of sustained economic stagnation” (Scissors and Foster, 2011). Policies that were set up during the Obama Administration have failed to this point, and America was facing a long-term standstill that may occur unless the federal government decided to take steps toward

Similar Documents

Premium Essay

Argumentative Essay On National Parks

...Visiting national parks, monuments, and historical sites is not only a favorite pastime for many Americans, but the areas themselves are also there to protect most of the nations wildlife, vegetation, and historically significant areas. The National Park Service (NPS) controls and takes care of all the national parks across the US. If the US government intends to cut the budget of the NPS, this would consequently shut down many of our country’s greatest parks. The National Parks are not only a place for people to seek an adventure, but these parks also contain much of the nation's history, which is the reason the parks are protected in the first place. Even though the parks may not look like a priority in our government's eyes, it is the people who regularly visit and appreciate the parks; therefore, funding for our the National Park Service should be a priority for both citizens and government officials....

Words: 667 - Pages: 3

Premium Essay

Immigration Argumentative Analysis

... To begin the argument, America should not be spending huge portions of the government’s money on restricting access into the country and deporting the immigrants already in the country. It would, in fact, cost more money to enforce more limitations and banish foreign migrants that are currently in the nation than it would to keep them. Proposed immigration changes, which include providing a path to citizenship for millions of undocumented immigrants, would expand earnings of American workers by six hundred eighteen billion dollars over the next ten years. People reason that ridding the country of illegal aliens and then implementing restrictions would not be a large chunk of America’s budget, but the severe cost of locating, detaining, processing, and deporting all eleven million undocumented immigrants in the United States would total to approximately four hundred to five hundred billion dollars, plus the billions it would cost to actually restrict immigration. “...the White House says that by 2023, the U. S. economy will lose some $80 billion in economic output by not allowing a path to citizenship for the estimated 11 million undocumented workers. The country will also have $40 billion in higher deficits in the next 10 years. And during that same decade, the Social Security Trust Fund will lose out on some $50 billion.” (Koba). Paying so much to banish and restrict immigrants from America is surely going to be detrimental and catastrophic to the economy. To tack on, we should...

Words: 871 - Pages: 4

Premium Essay

Presidential Election

...On November 6th 2012 American could have a new president; this two horse race is between Republican Mitt Romney and Democratic Barack Obama. This report will be looking to assess if Mitt Romney could become the next President. Such factors come into consideration as who Romney is? What’s is his plan to win over the American voters, What polices he will be focusing on and how popular they are with voters, tracking the polls to see where he stands, analysing his campaign to see if it has had any major triumphs or disasters, is Romney on the right path to get 270 electrical votes and most importantly looking at his opponent Barack Obama and is he likely to win again?. Using sources such as newspapers, online journals and poll websites to evaluate how successful Romney’s campaign will be. Romney The man, the plan. Mitt Romney has emerged through the rankings of the Republican Party to run in the 2012 Presidential campaign. Romney attended Harvard University where he studied law and business. He later moved on to become a high powered business executive who swiftly stepped into his father’s former position as Governor of Massachusetts in 2002. Even though he only served one term he quickly had his sights set higher but he was unsuccessful in his first attempt at becoming a Presidential candidate when he lost out to John McCain in 2008. Successful the second time around, he is committed to making sure someone in the race “understands” the Economy. During the race for the 2012...

Words: 2431 - Pages: 10

Premium Essay

Why Our Education Is America's Gift To My Generation

...My generation is very fortunate for the education that we are given. We are given access to technology that helps us learn. Part of a school’s budget is specifically used for different sports and clubs. Our main classes educate us in arithmetics, different areas of science, such as earth and space science, biology, mechanics science, and physics, history or geography, and language arts. We also are given unified arts classes that teach us a wide diversity of skills. Because of these reasons, I believe that our education is America’s gift to my generation. Students are able to play on sports teams that compete with different schools, or play different games against one another or even against other schools. My school has a football team,...

Words: 393 - Pages: 2

Premium Essay

Improbable Earthquakes In America

...Money from taxes empowers medical and environmental research, funds public works and education and provides basic medical care to the poor. Unfortunately, there never is enough money to pay for all of the society's needs. The United States White House has recently released a proposed budget to Congress. This budget will decide how much money can be spent on volcano and earthquake research. The problem is the government doesn’t have any money at all to be spent on anything. The people of the United states should be working on recovering America from the near endless debt that the country is in, and not on research on improbable earthquakes and volcanoes. America’s enormous government's debt is still growing, large earthquakes and volcanic eruptions aren’t even common, and no matter how much research the U.S. does, the force of earthquakes and volcanoes will never be able to be stopped. The U.S. government started to go into debt in 1837 after being debt free for only a year. That debt has increased to a striking 20+ trillion dollars over the course of 181 years according...

Words: 757 - Pages: 4

Free Essay

First Biz Paper

...The U.S. Space & Rocket Center is located in Huntsville, Alabama. The facility is one of the nation’s top science centers and is home to America’s Space Program. Huntsville, Alabama, is the birthplace of the US Space program and the Center is used as a location to help that story. More than 60 years ago, German Rocket scientists were moved to Huntsville following the end of World War Two. The US Army tagged their mission, “Operation Paperclip.” The Army used that name to describe more than 100 German scientists whose names were inside a folder. The materials were held together by a simple paperclip. The name stuck and became one of America’s greatest accomplishments as the Germans began working for the United States Army to develop missiles. At the end of World War Two, the Army allowed the German scientists to continue their work. Their dreams were not to create, build or deploy army rockets, but rather to create rockets that could go into space. In 1958, President Dwight D. Eisenhower created the agency under the name The National Aeronautics and Space Act. The NASA mission, according to President Eisenhower, was to encourage peaceful applications in space science. As the program grew, President Kennedy challenged the nation to go the moon in the decade of the 1960’s. In Kennedy’s words, “We choose not to do this because it is easy but because it is hard.” NASA, using more than 20 billion dollars in federal funding, began building the Saturn V rocket...

Words: 742 - Pages: 3

Free Essay

Why Incresed Investments in Education

...My family currently has three college students; I, my wife and our son, and we are all relying on loans and some grants to fund our education. I think the American Recovery and Reinvestment Act, which includes heavy investments in education, passed by Congress and signed into law by the President is a very good step in the right direction. This Act provides over $30 billion in funds to help improve access to college and help lay the foundation for positive long-term achievements of the country’s educational goals. Now is the time for increased investments in education because the economy, reeling from the current recession, benefits as a whole. The availability of adequate and inexpensive funding for college education is critical for America’s future prosperity and reforming the process is a must. Firstly, the basic argument for increased investments in college education is that employment prospects for college graduates are higher than for non-college graduates. Additionally, such employment comes with higher salaries and benefits such as bonuses, health insurance and retirement...

Words: 1874 - Pages: 8

Premium Essay

Nasa

...heights and reveal the unknown so that what we do and learn will benefit all humankind.” The scientist and researchers for NASA are trying to answer questions not just about the universe at large, but also about everyday human lives here on Earth. There are four focuses of NASA’s activity, called mission directives. Aeronautics, which focuses on meeting the worldwide demand for more eco-friendly and sustainable aircrafts. Human Exploration and Operations which involves operations on the International Space Station (ISS), developing commercial spaceflight and the ability for humans to explore beyond low-Earth Orbit. Scientist are exploring not only the Earth itself, but the universe beyond as well and works on charting the best exploration paths for us to continue discovering the universe. Space Technology is the final mission directive of NASA which combines elements from the others to develop and create the most innovative technology to aid future missions. NASA is also working hard to aid in the development of a private sector in space travel. Their hope is that by commercializing some aspects of space travel, such as routine trips to the ISS, more of their resources will be available for furthering their overall goals. This agency is also responsible for numerous satellites that are scanning our planet and sending back massive amounts of data about Earth’s weather, oceans and climate among other things. The research and development done by NASA has been of immeasurable value...

Words: 3098 - Pages: 13

Premium Essay

Individual Assignment 1

...Nick Shepard 2/10/2014 Individual Assignment #1 Summary The United States of America’s economy has found itself on the tail end of a recession that supposedly ended four years ago according to some economists (MSN). Though America may be out of the recent recession, there are many factors in the United States economy that powers its members into believing that the recession is still clouding the air. A significant example of such an influential aspect of the economy is the manufacturing sector of America. Living through the unpleasant time of the recession, America saw a nearly doubled unemployment rate from 2008 to 2010. Figure 1 (Floating Path) shows a timeline of the most recent recession in U.S. history with unemployment moving from 8% to about 16% in a one and a half year timespan. As of a few years ago, the jobs lost in the recession had not come back until recently where the current unemployment rate is about 14%. Figure 1 Companies have increasingly continued to outsource most of their work to countries all over the world. China is a large provider of goods that have been outsourced from the United States because of lower wages paid to their workers resulting in a much cheaper production. The production companies have not been able to keep up with the efficiency of production companies overseas in China for many years which has resulted in the struggling manufacturing sector of the United States. Not only is China taking jobs away from Americans in the...

Words: 1302 - Pages: 6

Free Essay

Social Security

...Social Security at 80: Time to Retire? or Revise In 2015, America’s Social Security System turns 80 years old. The original act was a landmark bill, as it was the establishment of America’s safety net. The promise of the act was to ensure that America’s retirees would have some protection from poverty. Since the Social Security Act of 1935 was passed, the social safety net has been expanded to cover additional groups and classes of people. The most important additional programs established being MediCare and MedicAid. After years of running a surplus, Social Security has reached an inflection point. At the current rate of drawdown, the trust fund will run dry, and Social Security will begin to operate as a pay-as-you-go program, potentially only paying 75% of promised benefit levels. This paper will discuss the history of Social Security, demographic and technological trends that affect Social Security, the future implications of these trends for Social Security, and possible solutions. A Brief History of Social Security Social Security as we know it today evolved from the Social Security Act of 1935. Under the terms of the original law, Social Security benefits only applied to the employee. Today, Social Security pays benefits to the employee, the spouse, and the disabled and contains the provision for what is known as Medicaid and Medicare. When compared to today’s law, the scope of the original version of the Social Security Act was much narrower. For example...

Words: 2360 - Pages: 10

Premium Essay

Balanced Budget Amendment

...Balanced Budget Amendment Throughout history, multiple attempts to improve America’s economy have been proposed as amendments to the Constitution. The economy of the United States is surely a huge ordeal to our citizens and policy makers. However, the national debt continues to increase without showing any signs of stopping or slowing down. One way the United States could combat this surge in debt would be to implement a federal budget in which all states must abide by. This concept has been approached many times in the past but there have been multiple issues with past-proposed amendments. Implementing an amendment that addresses these potential issues and works to balance a budget that does not exceed taxpayer money will greatly improve...

Words: 1497 - Pages: 6

Premium Essay

Save Vocational Education in High Schools

...with skills that cannot be achieved through academic courses alone. It is a solid foundation for young adults entering the work force in today’s economy. “A technical education is crucial in this day and age, equally so to some students as academic offerings are to others”(Tech Ed n. pag)., allowing them to pursue a career after high school whether they decide to further their education or not as stated by one news journalist; “…not every student wants to, or even should go to college. A sound technical track on the high school level can give students the skills to make a good living while providing an attractive pool of workers to draw new business.” (Tech Ed n. pag). Vocational programs must remain in place in America’s high schools and not be closed due to budget cuts or lack of interest as they are necessary to provide students with occupational and life skills. Vocational learning has often been depicted as a way of avoiding the monotony of traditional academics. This is not the case; by incorporating the programs directly with the high school, technical classes are taken in conjunction with core academics. Courses such as technical education, business and accounting, and many other classes are great ways for students to begin learning what it will be like to work in a professional environment when they leave high school. Wood working, metal shop, auto mechanics, and culinary classes provide valuable skills and for some students create enough interest to deter them from...

Words: 1891 - Pages: 8

Premium Essay

Project Management Analysis

...project effectively and efficiently with an ultimate goal in mind. This paper will analyze managerial, operational, and financial issues. This paper will also explore project management, project timelines, and contingency planning. Staffing needs will be explored, and an example of a Gantt and PERT chart will be included. Project Management analysis According to Project Management Institute (2012), Project Management is when an individual applies the knowledge, techniques, and skills to accomplish a project effectively and efficiently with an ultimate goal in mind. The goal of project management would be to make sure that the project is done in a timely manner, and under or right at budget. A project manager’s also has to understand scheduling, and how to head off any critical paths that may come in the way. And the best way to do that is by tracking information about the project on charts. The best charts to use to track information on a huge project would be the PERT and Gantt charts. According to The Constructor (2012), PERT stands for Program Evaluation and Review Technique. The PERT chart shows important information about the project. The chart is graph that has drawings on it that represent the task on the project. The chart below is an example of a PERT chart. In this PERT chart you will see that there are square nodes which represent the different task that will take place in the project. Whether the project is big or small you can you can use...

Words: 915 - Pages: 4

Premium Essay

Great Depression

...Part I: Pre-crisis time, what caused crisis, reasons of collapse In 1920s the economic progress in United States seemed everywhere, as Americans emerged from the self-imposed rationing and sacrifice of World War I and went on a buying spree. Millions of people across the country bought their first everything—their first automobile, washing machine, camera, radio, refrigerator. These products came off America’s assembly lines in an endless stream. More people were at work in U.S. factories and production plants than ever before, producing more goods than ever before. The U.S. economy was sometimes compared to an economic miracle. Consumers in the United States were not the only ones to experience good times. U.S. investors had also had a field day. Overseas, U.S. investments nearly doubled from $3.98 billion in 1919 to $7.5 billion by 1929. The New York Stock Exchange, which served for many as the truest indicator of the nation’s economic pulse, enjoyed phenomenal growth, especially after 1923. Stock purchases on the Exchange increased four-fold between 1923 and 1930. And stock sales were only outstripped by the rise in stock prices. Altogether, investment in the stock market and in bonds rose sharper than any other economic indicator during the decade, faster, in fact, than the actual production or sales of manufactured goods. During the 1920s a would-be investor could make his or her stock purchases largely on credit. Under the rules in place for the New York Stock Exchange,...

Words: 4815 - Pages: 20

Free Essay

Economic Priciples for Managers

...Introduction and Objectives One of the most hotly contested aspects of United States (U.S.) trade policy is the program of subsidies the United States provides its farmers. Trade partners object to U.S. farm subsidies, saying they unfairly block out foreign competition and this has been one of the primary sticking points during trade negotiations. The counterargument holds that U.S. farm subsidies are necessary to prop up the U.S. farm industry, particularly given the role that has been assigned to corn-based ethanol in the United States energy security plan. This brings us to the issue at hand; do United States farming subsidies need to continue, or should they be eliminated? This work will attempt to clarify why both sides of the argument feel they are correct and it will also attempt to show that repairing or fixing farming subsidies, not completely eliminating the program is in our best interest as a country. Method Most of the research that was unearthed on this topic came from the professionals in the field. Among the research found are debates from the CATO institute, website articles from the National Center for Policy Analysis, and information from the Heritage Foundation. Findings and Observations As it is often argued, governments are going to be involved in agriculture and a country’s food supply. As is often the case, if governments are involved, you as a consumer want them to err on the side of more production, not less. Estimates of the future cost...

Words: 2113 - Pages: 9