StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

UNIT 5 DISCUSSION BOARD - Essay Example

Cite this document
Summary
At its greatest level in history, the current deficit provides the economy with a small boost, but if allowed to continue on its path of projected growth,…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.8% of users find it useful
UNIT 5 DISCUSSION BOARD
Read Text Preview

Extract of sample "UNIT 5 DISCUSSION BOARD"

The National Debt, a Continuing Crisis If the National Debt of the United s cannot be described asa situation experiencing a crisis then little else can. At its greatest level in history, the current deficit provides the economy with a small boost, but if allowed to continue on its path of projected growth, deficits will eventually result in the lower standards of living caused by a sustained stagnation of the economy. Citizens will also be deprived of various government programs such as those targeted at the economically disadvantaged – a state many more people will experience if the current trend is not reversed.

Other government funded interests such as education, military and infrastructure will suffer greatly as well. According to the Commerce Department, the yearly payment on this debt, the deficit, reached $725.8 billion. This represents a 17.5 percent increase from 2004 (Armstrong, 2006). These figures are well past most peoples’ comprehension. If, for example, a person were to spend a million dollars a day since the birth of Christ, they would have to continue the spending spree for 700 more years to have spent one trillion dollars.

Multiply that amount by eight. That still does not equal the current national debt. Started in 1791, the national debt was, by those days’ standards, an incredible $75 million. Due to President Andrew Jackson’s prudent approach to government spending, the national debt was lowered to, again adjusted to today’s standards, a much lower level – $37 thousand (Suter, 2004). The Reagan/Bush administrations of the 1980’s ran the debt up by historic proportions. When President Clinton took office in 1993, the debt stood at $2.

4 trillion. The massive increase of debt was not used for infrastructure, education, public programs or even to finance a war. As a result of Reagan’s ‘trickle down’ economic theory, the money wound up in the pockets of the rich. In the early 1990’s, Congress adopted a ‘pay-as-you-go’ policy and federal spending cuts which resulted in budget surpluses for four consecutive years. Clinton announced that the nation could pay off the debt by the year 2013 if it stayed on the present course (Schoen, 2006).

That optimistic predication has long since been forgotten. Since 2000, the debt has tripled. The ‘pay-as-you-go’ policy expired in 2002 allowing Congress to cut taxes, a politically advantageous move while also increasing spending (Schoen, 2006). The current President Bush administration cut the taxes of the rich while increasing military expenditures on The War on Terror, invasions of Iraq and Afghanistan and the rebuilding of those countries. The debt has now exceeded even the Reagan administration’s record levels.

It has severely hampered America’s ability to continue to effectively defend itself or become involved in other potential conflicts worldwide. “There is a growing concern about what the increasing U.S. national debt will do to the nation’s ability to influence world affairs” (Suter, 2004). The issue of pork-barrel spending described as when Congressional Members ‘earmark’ monies over and above the budget resolution constraints so as to fund projects in their home district or state, is generally considered wasteful spending.

Even President Bush who has allowed the budget to rise to record levels is against the practice. As Bush accurately stated last January, “many of the pork barrel projects have never been reviewed or voted on by the Congress” (The White House, 2007). Congress will not be able to reduce the debt unless all earmarked spending bills are fully transparent to both Congress and the public or by greatly diminishing the practice altogether. According to Bush, “By balancing the budget through pro-growth economic policies and spending restraint, we are better positioned to tackle longer-term fiscal challenges facing our country, namely the entitlement programs.

Another area where we can work together is to reform the earmark process” (The White House, 2007). Bush is saying the right words and hopefully the next president will act upon this reality. The nation at present is facing many crises including the war in Iraq, illegal immigration, health care, etc., but the one of most importance is the national debt. It alone could tip the balance of power in the world. The U.S. would follow the lead and policies of other nations and be plunged into a third-world-like economic status.

Maybe the most troubling aspect of the debt is that it is future generations of Americans that will be most affected by the greed of the present generation. ReferencesArmstrong, David. (February 11, 2006). “U.S. Racks Up Record Trade Deficit in ’05: $725.8 Billion Total is 17.5% Increase Over 2004’s Mark.” San Francisco Chronicle. Retrieved February 4, 2008 from Schoen, John W. (2006). “Why is the National Debt out of Control?” MSNBC. Retrieved February 4, 2008 from Suter, Keith.

(June 30, 2004). “The Next International ‘Debt Crisis’ is in North America.” Online Opinion. Retrieved February 4, 2008 from The White House. (January 2007). “Fact Sheet: A Balanced Budget by 2012 & Earmark Reform.” Retrieved February 4, 2008 from

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“UNIT 5 DISCUSSION BOARD Essay Example | Topics and Well Written Essays - 500 words - 2”, n.d.)
UNIT 5 DISCUSSION BOARD Essay Example | Topics and Well Written Essays - 500 words - 2. Retrieved from https://studentshare.org/miscellaneous/1544347-unit-5-discussion-board
(UNIT 5 DISCUSSION BOARD Essay Example | Topics and Well Written Essays - 500 Words - 2)
UNIT 5 DISCUSSION BOARD Essay Example | Topics and Well Written Essays - 500 Words - 2. https://studentshare.org/miscellaneous/1544347-unit-5-discussion-board.
“UNIT 5 DISCUSSION BOARD Essay Example | Topics and Well Written Essays - 500 Words - 2”, n.d. https://studentshare.org/miscellaneous/1544347-unit-5-discussion-board.
  • Cited: 0 times

CHECK THESE SAMPLES OF UNIT 5 DISCUSSION BOARD

Unit 2 discussion board

Medicare… ts the Health Insurance Program that targets citizens that are of the age of sixty-five years or older, some of the disabled citizens below the age of sixty-five, and citizens with permanent kidney failure that requires treatment through dialysis or kidney transplant. The first Unit 2 discussion board Introduction: Medicaid is the given to the joint and voluntary initiative between the federal and governments that aims at providing health insurance coverage to the economically backward, disabled, and elderly impoverished citizens of the United States of America....
2 Pages (500 words) Essay

Unit 4 Discussion Board

There are number of reason that causes this migration that include; A number of physicians are still being Running head: HOW MANAGED CARE IS LIKELY TO IMPACT SUPPLY OF HEALTHCARE PROVIDERS IN THE UNITED S Unit 4 discussion board UniversityUnit 4 Discussion BoardManaged care has an impact on the long-term supply of healthcare providers in the United States in a number of areas.... This discussion will touch on the characteristics of different types of provider organizations and later on evaluate current developments in the healthcare… There is a long-term supply of healthcare providers in the United States as large numbers of IMG (Foreign-trained physicians) continue to enter the country....
2 Pages (500 words) Essay

Unit 2 disucssion board

In the Unit 2 discussion board Given that rights have dominated several healthcare debates, how would you define rights as a healthcare provider and why?... The physician takes into consideration the rights of the patient by extending the means of a discussion to arrive at the mode of treatment, and in this discussion completes his obligation to the rights of the patient by providing the input of all the knowledge and information available, to the patient as to the disease or condition, and the treatment regimes available....
2 Pages (500 words) Essay

Unit 2 Discussion Board

This purchasing behavior has led to the use of the Unit 2 discussion board Introduction: The concept of dynamic pricing is not new, but essentially a version of the old practice of price discrimination in different markets.... The importance of dynamic pricing lies in its use of the current information technology to spread its wings (Perloff, 2004). Dynamic pricing… In India the open skies policies in the domestic sectors had led to the growth of low-fare carriers and removal of fare fences, causing the demand to buy down....
2 Pages (500 words) Essay

Unit 3 Discussion Board

This will be achieved while… g in view the element of value addition in mind since sea food being a generic commodity; we believe our unique selling proposition will be value addition. As discussed in our earlier discussion, the unique selling proposition of our product will be the healthy nutrient added Unit3 discussion board Overview of the Product The product which we are going to launch is the process sea food.... ore StrategyAs discussed in our earlier discussion, the unique selling proposition of our product will be the healthy nutrient added to our seafood products so that not only we provide tasty sea food but also the healthy and fresh food which can be taken as an alternative to the mainstream food supplies....
2 Pages (500 words) Essay

Unit 1 Discussion Board

As a science, management must Running Head Unit discussion board Unit discussion board Management is both art and science because it is based on strict guidelines and theories but it requires flexibility and innovation in its implementation.... Management is both art and science because it is based on strict guidelines and theories but it requires flexibility and innovation in its implementation....
2 Pages (500 words) Essay

Unit 4 Discussion Board

726) Healthcare Unit 4 discussion board The multi-corporate structure is one of the popular forms of healthcare organizations for practical purposes.... Essentially, this structure is characterized by a parent corporation with two or more subsidiaries depending on the size and complexity of the organization....
2 Pages (500 words) Essay

Unit 5 Discussion Board Algebra

Thus, grandma's UNIT 5 DISCUSSION BOARD The investment plan selected is 60 months U.... Bank Certificate of Deposit (Certificate of Deposit Rates, 2012) for the grandmother who has $50,000 to invest and is looking for a plan to finance her new grandchild's college education. The average cost of a college education… The average annual tuition (plus expenses) at a private nonprofit four-year college is about $35,000 and at a public four-year college is about $18,000 (The Average Cost of a U....
1 Pages (250 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us