Fixing the Budget

1662 WordsJan 27, 20187 Pages
Politics 105 Report Fixing the Budget There are four long-term challenges facing the US today that must be addressed by the next President and Congress. These are serious challenges, and are not small tasks to accomplish. By any means the challenges the next President and Congress faces will be discussed in fully on how they impact the economy and what steps should be taken to fix them. Before I deliberate the four topics in detail - I am going to give a brief description of each topic; The first topic that most importantly needs to be discussed is the national debt, When someone mentions $17 trillion dollars what do you think? What comes to most minds is that is an excessive amount of money. Truth be told that is sadly the amount of debt the United States has incurred, and that number is growing at an extensive rate each day. When I have concluded the ending of my discussion the debt will have already increased significantly. That deficit will need to be reduced through a combination of spending cuts and/or revenue increases that will yield a net savings of $1.345 trillion dollars by 2030. The next topic the government needs to elaborate on is the recession; a recession is defined as “A significant decline in activity across the economy, lasting longer than a few months”(Investopedia) we can detect a recession by a few factors; these factors are GDP, Employment, and Retail sales. The US economy is not growing in a robust manner. Unemployment is at c. 7.8% and
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