9/11 Attacks

Since the attacks a number of civil defense programs have been initiated, which leads to more departments asking for an allowance within the national budget. This ultimately is leading to a larger and larger deficit that is quickly encompassing full percentage points of our GDP. There is a debate on how much defense

The attacks of 9/11 affected the United States by increasing discrimination, endangering the health of many Americans, hurting the economy and changing foreign and security policies.

The terrorist attacks of September 11, altered American 's perceptions of the role in the world by strongly supporting the increased spending on national security and counterterrorism. Also, Americans have become more aware of how and where to engage in the world. As a result of the attacks, the US now has a defense that totals to nearly half the global total and has military dominance over scene, air, and space. The US also has the capability to dispatch massive military power anywhere in the world making them the system shaper. You may ask yourself just have a bad or do you check on September 11, 2001 was that led to this chaos and security becoming abnormally tight you may ask yourself just have a bad do you check on September 11, 2001

The federal budget deficit is a much discussed and little understood subject in American politics. The current recession has dramatically decreased tax revenues, driving the United States federal government to increase spending in an attempt to stabilize the economy. As a result the current federal deficit is at over $1.3 trillion dollars. This is approximately $47,754 per U.S. citizen or $137,552 per U. S. taxpayer (U.S. Debt Clock: Real Time, 2012).

Budgets for defense related agencies have grown sky high. 9/11 changed many peoples attitudes and concerns about safety. This resulted in policies like the U.S patriot act that put defense and security above civil liberties. Shortly after the 9/11 attacks, homeland security was created and their budget in 2001 was 43

The wars in Iraq and Afghanistan are winding down and that will help lower the defense spending by almost $1 trillion over the next decade. The congress is realizing that they need to do some restructuring and have already begun rearranging the military budget in response to austerity. Congress conjured up a $630 billion defense appropriations bill that made plans to reduce civilian and contractor personnel by 5 percent over the next five years and in return ramp up advanced weapons programs, including drones, bombers and missiles says The Washington Post. The American Conservative

In 2009 the debt was amounted to about $12 trillion , or 83.4 percent of the country’s GDP (“Budget of the United States Government: Historical Tables Fiscal Year 2011” table 7.1). Since 2003, the debt has been increasing by more than $500 billion annually. The increase in 2009 was $1.9 trillion. According to the Congressional Budgeting Office, this debt will keep increasing at least for the next decade (“The Budget and Economic Outlook : Fiscal Years 2010 to 2020” 21).

The United States deficit, surplus, and debt will always have an impact on taxpayers. In the state of high deficit the government seeks ways to cut and save money for debt payment. The government does this by pulling funding from programs that have little government impact. Increasing taxes also supplies the government with extra income. In addition to the reduction or elimination of certain tax credits, the government analyzes school funding for cost effectiveness. Each step the government takes has a trickling effect on taxpayer’s dollar.

spending for FEMA. After the 9/11 terrorist attacks Bush Administration were focused more on antiterrorism,

However, the deaths are not the only loss the 9/11 attacks created but the economic costs were also a significant blow to the United States. The direct cost losses being related to the damage caused by the destruction of the buildings include but are not limited to; the loss of the four civilian aircrafts with a value of $385 million, the replacement cost for the destruction of the buildings amounting to $4.5 billion, $10 to $13 billion of property and infrastructure damages, a loss of 17$ billion in lost waged and direct job losses along with considerable losses exceeding $45 billions in insurance industry and traffic revenue (Institute for the analysis of Global security). But the damages don’t cease there. In fact, according to the report published by Watson Institute for International Studies of Brown University, the US governments’s

According to President Bush the most important domestic issue that United States was facing was the fiscal deficit which was projected at $232 billion for the upcoming year. One factor linked to the issue was high oil prices due to the hostage of oil in the Middle East. Another factor that causes the deficit was the increase in expenses for the defense department to support the United States military in the Persian Gulf. Therefore, United States financial problems were mostly caused by its intervention overseas. Consequently, Bush gave the Congress one month to find ways to reduce the fiscal deficit, so that the country couldn’t face any economic or military crises.

The Economic consequences of terrorism (Lenain, P (2002) stated that Private businesses suffered profound destruction of assets that was calculated in national accounts to amass to $14billion, state and federal government enterprises suffered a loss in the region of $2billion, what was also astounding to read was that the rescue and clean-up costs totaled to an amount of at least $11billion.

This war cost the American economy billions of dollars, and the military expenditures rise dramatically to cover the wars waged by the US in the name of ‘war on terror’. This ongoing war started less than month after 911 attacks on US when the US troops invaded Afghanistan to retaliate the Taliban government for harboring al-Qaeda and to dismantle that organization to prevent her from executing more attacks on American soil. Although the American troops withdraw officially from Afghanistan in 2014, yet American forces still fighting in a military involvement that turned into the longest running war in the history of the United States. Two years later, although not directly linked to the terrorist attacks, the United States invaded Iraq in March 2003, and disposed of President Saddam Hussein, suspected of producing weapons of mass destruction. The immense failure of that campaign led to chaos and civil war that cost millions of victims and refugees . And to make matters worse, the American forces withdrawal in 2011 left the nation in a far more volatile situation with the birth of the most brutal terrorist

Deficit spending is when purchases exceed income. It is usually attributed to government spending within an economy. Although it can happen to both individual and business, when government spends more and not able to balance the budget, we say it is deficit spending. Deficit spending is created each fiscal year by congress and government because the spending by government causes the growth of the economy. For example, in the United State deficit spending is mainly caused by social, security, and medical cost. Government spends most of its revenue in each fiscal year into this payment. According to Kimberly Amadeo(2017) he said “ most people don’t realize that wars create more deficit spending than the create recession. The war in Afghanistan cost $28.7 billion in 2001.The war in Iraq for deployed military costs $72.5 billion by 2003. In 2008, the total cost grew to $186.6 billion.

The economic impact of terrorism and how it effects a stable economy after a terrorist attack has occurred. “Terrorist attacks create real losses for society” (Stinson, 2007, p. 145). A terrorist attack can have a positive or negative impact on a financially stable economy depending on the type of attack which occurred and the amount of damage the attack created. “Quantifying those losses is a sobering, but important task since it provides vital information for policymakers to use as they choose how to allocate scarce public and private sector resources” (Stinson, 2007, p. 145). The financial impact of terrorism was seen during the post 9/11 attacks due to the World