...United States Defence Funding “So long as nuclear weapons continue to exist, so will the temptation to threaten others with overwhelming military force” (Ikeda 1). This quote shares a great truth in which Daisaku Ikeda is expressing to this day. Countries everyday are working towards new development of nuclear weapons, building their militaries to overwhelm their enemies and friends, and growing fear in the nations of the world that one day, someone will act. Today, we all know the power of these nuclear weapons, demonstrated in situations such as the Trinity test, conducted by the United States on July 16th, 1945, Chagan, conducted by the Soviet Union on January 15th, 1965, and Operation Hurricane, conducted by the United Kingdom on October 3rd, 1952 one of the first Atomic bombs in existence. These tests were the dawn of military growth and development, something in which today is a problem, driving fear in the nations of the world who only has the solution, is to build bigger than their opponents, also known as Militarism. This is an issue currently facing the United States of America, with almost twice the size of a military compared to it’s second ranking opponent Russia in World firepower, and continuously building. “In the past 10 years, overall military spending has more than doubled”(Paul 2). Yes, twice the size of a military, but 9 times the military budget, now how does that sound, possibly depressing when you get into the money talk. The United States has many more...
Words: 1699 - Pages: 7
...would bring the United States deeper into debt, and would increase the wait time for health care. Having access to affordable health care is a right all people in the United States deserve, however, the government is not responsible to insure this right. Every US citizen should have the right to health care, because it is an internationally acknowledged human right. According to the United Nations Universal Declaration of Human Rights, in article 25, it states, “Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including [...] medical care.” A standard of living adequate to the health also includes food, clothing, and housing; if every individual has the right to food, clothing, and housing, they should similarly have the right to medical care. The Declaration of Human Rights was signed by the US, therefore affordable...
Words: 577 - Pages: 3
...I. The extraction of petroleum dates all the way back to 1878, in the Santa Elena Peninsula. In Ecuador, minerals are owned by the government and developed through government entities. In 1964, Petro Ecuador, which is Ecuador's state oil company and Texaco Petroleum, created a business partnership called a consortium, to produce oil in the Orient region of the Amazon. Texaco Petroleum's was under a 28-year concession agreement with the government. During this time period plaintiffs believe, the company is responsible for billions of gallons of oil dumped in the region. Also, that this pollution has caused the loss of livelihood, and the widespread health problems including 1,400 related deaths. When Chevron took over Texaco in 2001, they acquired this lawsuit. Today, Chevron is not involved in producing oil in Ecuador. A. One of the issues following Chevron is whether or not Chevron had the proper jurisdiction as a corporation to operate outside our national borders, in Ecuador. As a corporation the first step in moving operation into other countries, is first receiving approval form the share holds. Corporations must seek proper approval from there shareholders before seeking many changes. Corporations often engage in an acquisition of other corporation by a friendly merger. A merger happens when two corporation come together. One corporation is absorbed into the other corporation. However the merged corporation ceases to exist, leaving the surviving corporation...
Words: 1487 - Pages: 6
...Business Structure There are various forms of business structures within the United States and understanding the differences assist in determining which is paramount to the type of business being created. The ranges of structures each vary from one type to another along with positive and negative aspects that should be considered for each entity. “The owners of business usually choose the organization form that will help management maximize the value of the firm.” (Kidwell & Bates, P. 6) A business can form a sole proprietorship, partnership, limited liability company, corporation, or limited liability partnership. A sole proprietorship primary advantage is it owned by one person, who can make all the business decisions for the company as well as keep all the profits. It is the most commonly used form of business in the United States. It is the least expensive to start; however, he or she is also accountable for all the debts and obligations of the company. Additionally he or she has unlimited liability including personal assets. Sole proprietor must have funds to continue the business because it is harder to obtain loans for this business structures. A partnership will consist of two or more owners whom all will be legally responsible for managing the business. Although this format is used less frequently than the other types of business structures, it also has advantages and disadvantages. Each partner will invest funds in the company, and the profits are divided among...
Words: 605 - Pages: 3
...Abstract The long-term debt of the United States is increasing to a first time thing and it is at the unmaintainable levels. The longer the United States will wait to put new policies in place, the more deficit reduction will be needed. The United States needs to establish a determined realistic goal and promise as a nation to achieve that certain goal. As my role of a legislature I need to find a way in order to stabilize the public debt to a 60% GDP. In order to come with a solution to stabilize the public debt, I will have to make tough budget choices to maintain an economic development. The budget choices that have to be made are based on the budget path, defense, domestic, social security, healthcare, other spending, revenues, and tax...
Words: 1300 - Pages: 6
...LIT1: Task 310.1.2-01-06 Part A: Sole Proprietorship: is the most common business structure. The business is not a separate entity from the proprietor which makes autonomous. Liability - if you enter into a sole proprietorship, you have unlimited liabilities associated with your business. You will be liable to the full extent of your assets for any business liabilities. Income taxes - as a sole proprietor, when you file taxes, you would file it under your own personal income taxes. Sole proprietor do not have anyone withholding their taxes. You do have to keep me in mind that as a sole proprietor you are responsible for budgeting you tax liabilities. Continuity of the organization - as a sole proprietor, when you die, the business dies. Control - as a sole proprietor, you have total control of the business. As the sole owner, you do not share any responsibilities with anyone else. Profit retention - as a sole proprietor, any profit made from the business would only be distributed to the sole owner. There are not partners associated with sole proprietorship. Expansion - as a sole proprietor, you have autonomy or flexibility with your business. Since sole proprietors are not seen as legally separated from their business, the ease of expansion is uncomplicated. Compliance - there are minimal reports you have to file with the government and there is no restrictions on the operations of your business. General Partnerships: is a partnership that is formed with two...
Words: 1827 - Pages: 8
...Bankruptcy Under Chapter 7 Introduction Bankruptcy under chapter 7 in the United States was crafted to ensure the liquidation process is carried out in a procedural manner without subjecting unnecessary losses to other businesses. The bankruptcy code for liquidation states that, in case of businesses inability to fulfill its creditors’ obligations, the debtors assets shall be sold nonexempt and the proceeds from the sale distributed to the creditors. There are various notes, which govern the execution bankruptcy case under chapter 7. The monthly current income which is received by the debtor in reference to bankruptcy code is defined as the average monthly income which is received on average over the last six months prior to commencement of the bankruptcy case. This average income includes contributions directed towards household expenses received from non-debtors which includes debtors’ spouse when the petition if filed jointly. However, this note does not include any proceeds and income received by the debtor from social security income as well as certain payments made due to the debtor been a victim of certain crimes (United States Courts 1). In order to determine whether a presumption of any kind of abuse arises, every debt that holds a consumer debt and files a bankruptcy case under chapter 7 is statutory required to complete an official bankruptcy form B22A. This is a vital and indispensable document for use in the case known as “Statement of Current Monthly Income and...
Words: 2609 - Pages: 11
...Basel Committee on Banking Supervision FIN 311 Bank Management and Turkish Banking System What is Basel Committee? An institution created in 1974 by central bank Governors from the Group of Ten nations. It has many of members come from Argentina, Turkey, Japan, Australia, Russia, the United Kingdom, United States, France, Germany, India and other countries. They meet four times a year at the Bank for International Settlements (BIS) in Basel, Switzerland. The role of the committee is that set out the minimum capital requirements of financial institutions with the goal of minimizing credit risk. Additionally, the first contract was the Basel I. It was issued in 1988 and focused on credit risk by creating a bank asset classification system. The system has five risk categories. Some of those are; * 0% - cash, central bank and government debt and any OECD government debt * 0%, 10%, 20% or 50% - public sector debt * 20% - development bank debt, OECD bank debt, OECD securities firm debt, non-OECD bank debt (under one year maturity) and non-OECD public sector debt, cash in collection * 50% - residential mortgages * 100% - private sector debt, non-OECD bank debt (maturity over a year), real estate, plant and equipment, capital instruments issued at other banks. There is a significant point in this system, that the bank must maintain capital equal to at least 8% of its risk-weighted assets. I mean, if a bank has risk-weighted assets of $100 million, it...
Words: 4137 - Pages: 17
...Eliminating Student Debt Bonnie Heath COM/156 August 29, 2010 Lori Wilson Eliminating Student Debt What I hope to accomplish in this paper is to show the reader that because of the predatory practices and shady deals with the different schools, credit card companies should not be allowed on campuses marketing to college students. The level of debt in society today is high enough and credit card companies do not need to be targeting college students just to increase their number of customers. Even though they should be allowed to market to college students because it is a good way to learn about credit cards and how to handle them responsibly, credit card companies should not be allowed on campuses to market to college students. College students already have enough debt as it is if they do not receive scholarships or help from their parents, and college students, fresh out of high school, do not know enough about personal finance and personal credit to be responsible about credit cards. I happen to agree with this statement because when one thinks about it, college students who do not have scholarships or help from their parents are already in enough debt as it is. One argument for credit card companies being allowed to market to college students is credit cards are a way for students on their own for the first time to establish a good credit score, which then can be used later in life to obtain loans for cars or homes. Credit card companies market to college students...
Words: 1118 - Pages: 5
...president of the United States was a well known and highly favored man. Although he didn’t have much interest, many individuals felt he made a perfect fit. When election day came Washington received unanimous votes, leaving him with an offer he simply could not refuse. After becoming president Washington endured many conflicts that divided Americans politically, drove a wedge between the northern and southern states, and challenged the authority of the new nation. Americans began to split politically for many reasons. One included the initiation of the National Bank suggested by Alexander Hamilton. Many disagreed with his proposal including a man by the name of Thomas Jefferson. Jefferson felt the national bank would cause dangers and wrongs in the government. He then stated “ to [grant it] a power to make laws [superior] to the laws of states … [is wrong]. (Document...
Words: 654 - Pages: 3
...In week four, we discussed how deficits, surpluses, and debt in relation to the macroeconomic health of the United States. A government deficit is when federal spending is greater that the tax revenue received for that year. Each year the deficit is added to the current debt, the Treasury must sell bonds to raise the money to cover deficit. At first, the deficit spending does boost economic growth. As we have read in the previous weeks, government spending does have a positive effect on the economy; it lowers interest rates, increasing the money supply available, and creates jobs, which lowers the unemployment rate. However, if the deficit is added to the national debt this is very damaging to the economy because the government can let the value of the U.S. dollar fall, this would make the debt repayment cheaper and less expensive. This will have a negative effect on foreign government and how investors view the strength of our Treasury bonds, and they will be reluctant to purchase Treasury bonds, this will cause an increase in the interest rates. When creditors become concerned about a country's ability to repay its debt, they demand a higher interest rate to provide a greater return on this higher risk investment. Treasury bills, notes and bonds are used to finance budget deficits, if foreign government and investors do not purchase them, the U.S. will have difficulty raising money to continue to finance the deficit On the other hand, a budget surplus is the opposite...
Words: 403 - Pages: 2
...White Paper - Impact of Greece Crisis Global Research Limited Introduction Historically, financial crisis tend to lead to sharp economic downturns, low government revenues, widening government deficits, high levels of debt, pushing many governments into defaults. This is called SOVEREGIN DEBT CRISIS. GREECE is currently facing this, it accumulated high levels of debt during the decade before the crisis, when capital markets were highly liquid. As the crisis has unfolded and there was liquidity crunch in world economy, Greece may no longer be able to rol over its maturing debt obligations. Build – Up To The Current Crisis Between 2001-2008, Greece reported budget deficits averaged 5% per year, compared to Eurozone average of 2%. Also, its current account deficits averaged to 9% per year compared to Eurozone average of 1% Greece funded these twin deficits by borrowing in international capital markets, leaving it with chronically high external debt (115% of GDP in 2009) Some of the facts which can be depicted from following charts : www.capitalvia.com 2 White Paper - Impact of Greece Crisis Global Research Limited How Country Debts And Budget Deficits Compare? Projected budget deficit for 2009 Budget deficit figs as % of GDP Debt as % of GDP UK 13% Greece 12.5% Spain 11.25% Ireland 54.3% 68.6% 112.6% 65.8% 10.75% 114.6% 5.3% Italy Germany 3.5% 74.3% Source: European Commission / Economic forecast autumn 2009 www.capitalvia...
Words: 2290 - Pages: 10
...Along with the inspired words of God our Father, let us digest the words of the 13th Amendment of the Constitution ratified by the states on December 6, 1865. The 13th Amendment states, “Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction” ( “Primary Documents in…”). Interesting, almost 149 years later, and with many Americans in debt today, the above words, can only suggest one thing; perhaps slavery or involuntary servitude is not dead but has only taken on a more disguised form. Although the above may be true, some believe debt is not slavery but a financial hardship brought about by one's own actions. With statics showing that the American public holds the bulk of the seventeen trillion dollar, deficits (The Debt to…); and that only 32 percent of Americans actually budget (Jacobe), one can come to believe this is true. That it is the public’s fault for not budgeting. For this reason, it is necessary that we diligently research and investigate past and present evidence to educate ourselves on the national debt crisis, so that we could shed some light on the root cause. First all, we will need to understand eccentric statistics on how many Americans are actually affected by debt today. According to Michael A. Fletcher of The Washingstonpost.com, three out five workers’ mortgages, credit card balances and installment...
Words: 2351 - Pages: 10
...Paper - Impact of Greece Crisis Global Research Limited Introduction Historically, financial crisis tend to lead to sharp economic downturns, low government revenues, widening government deficits, high levels of debt, pushing many governments into defaults. This is called SOVEREGIN DEBT CRISIS. GREECE is currently facing this, it accumulated high levels of debt during the decade before the crisis, when capital markets were highly liquid. As the crisis has unfolded and there was liquidity crunch in world economy, Greece may no longer be able to rol over its maturing debt obligations. Build – Up To The Current Crisis Between 2001-2008, Greece reported budget deficits averaged 5% per year, compared to Eurozone average of 2%. Also, its current account deficits averaged to 9% per year compared to Eurozone average of 1% Greece funded these twin deficits by borrowing in international capital markets, leaving it with chronically high external debt (115% of GDP in 2009) Some of the facts which can be depicted from following charts : www.capitalvia.com 2 White Paper - Impact of Greece Crisis G lobal Research Limited How Country Debts And Budget Deficits Compare? Projected budget deficit for 2009 Budget deficit figs as % of GDP Debt as % of GDP 68.6% UK 13% 112.6% Greece 12.5% 54.3% Spain 11.25% 65.8% Ireland 10.75% 114.6% Italy 5.3% 74.3% Germany 3.5% Source: European Commission / Economic forecast autumn...
Words: 2286 - Pages: 10
...to the Congress a proposed budget for running the business of the Federal government annually (United States, 2017). This helps the president in doing his projects e.g. medical care and other responsibilities in the financial year. The General Accounting Office (agency in government accountability) is responsible for the budget allocation after approval by the Congress. The General Accounting Office is also responsible for provision...
Words: 981 - Pages: 4