Federal Budget And The Budget

1814 Words Nov 19th, 2015 8 Pages
It is no secret, the federal budget is in a major deficit. The federal government continues to borrow money to finance obligations that include Medicare, Social Security, military defense, federal salaries and other programs. The more the government borrows; the deeper the country sinks into debt (Krulick, 2015). As federal debt grows, the congress raises the allowable debt ceiling. The Congressional Budget Office estimated the Gross Domestic Product (GDP) was $17.3 trillion in 2014 and that the federal budget deficit was $506 billion ("Congressional Budget Office,”).
I believe the sources I have used to research this date are credible. The Congressional Budget Office claims to be a nonpartisan agency which makes no recommendations on
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The decreased funding and increased taxes will affect families, veterans, seniors, and military personnel. Congress passed a law saying that if they couldn’t agree on a plan to reduce federal debt, arbitrary and across the board budget cuts would start to take effect ("Budget Simulator Committee for a Responsible Federal Budget," n.d). It is my opinion sequestration is a necessary step towards reducing federal debt. I am hopeful it will prevent a complete collapse in the economy. Sequestration will reduce the country’s debt and it will allow for less of government funds to go towards interest, eventually resulting in more money being available for services.
My proposed budget would allow sequestration to continue and prohibit increased taxes beyond the current levels. I disagree with higher taxes despite an individuals’ income because it results in more government control through federally funded programs. The more benefits and programs the government provides focusing on the greater good of all Americans; the less individualism is supported (Jimenez, 2014). These programs result in more government control because people are less likely to speak up about government failures if they are reaping individual benefits. Higher taxes and government funded programs directly contradict the values of Protesant Work Ethic which promotes hard work and considers people without a proper work ethic to be inferior (Jimenez, 2014).

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