President’s Dilemma Speech Our nation is currently in the middle of grim economic circumstances of stagflation. Inflation is high, and getting higher. Unemployment is high, and getting higher. While all of this happens, GDP continues to drop. If nothing is done about this, our nation is sure to suffer worse consequences than we have already been forced to endure. Our economy will be flushed down the toilet. This new economic policy is the answer to our prayers. With the perfect blend of fiscal and monetary policy, we will achieve our goal of curbing inflation and will reduce the price of goods and services. Although GDP will initially go down because of the decrease in personal income, overtime the reduction in prices will eventually …show more content…
Unfortunately, this policy alone will not do that. We can however, use the money acquired in the government surplus to bring back New Deal programs such as the Civilian Conservation Corps to help beautify our country, replant trees to reduce our carbon footprint, and most importantly, provide jobs for the people. Using the money acquired through taxation to do this would cause spending to increase, which will cancel out with the previous decrease caused by getting rid of the penny. Providing jobs to the people would cause consumption to increase, negating the decrease caused by taxation. This means that overall, GDP will remain unchanged, unemployment would decrease, and the inflation rate would go down significantly. This method does work, as shown during the years of the Great Depression when then-President Franklin Roosevelt used these programs to get our economy back into shape. The affect this plan would have on our citizens is mostly positive; all citizens would be positively affected by reductions in prices, and the lower class would be positively affected by the increase in jobs, and the eventual stabilization of the economy would, of course, affect everybody positively. Unfortunately, this plan means increase taxes for those who smoke and those who make over $100,000 a year. Citizens, I ask that you please be understanding of this. For the time being, those who are less fortunate than you cannot afford to pay the taxes; they must concentrate their
will make for bigger government, which will in turn grant more power to Big Tobacco.
"The Penny Debate " by Brad Andrew is an article written to inform Americans about an ongoing conflict. Both sides are supported with good reasons; However, I think It would be beneficial to keep the penny. Based on the article, which implies that fellow Americas would lose much more than we're gaining. Things such as; Getting rid of the penny, Charities ran on coins will lose profits, putting U.S. Mint further in debt, and prices would rise. Many may think that eliminating the penny will be a plus, but aren't looking at both pros and cons in-depth for future references. Rather than getting rid of the penny altogether we could use a cheaper metal to produce
Language plays a crucial role in the development of power. Famous personalities in the United States use rhetorical devices to emphasize a specific point and make it clear to the audience. President Thomas Jefferson is a Democratic-Republican and won the election of 1800. In 1801 he presented his inauguration speech and was significant because it was the first time in the history when the power shifted from one party to the other. Martin Luther King, Jr. served as an American minister and played an active role in the civil rights movement. John F. Kennedy delivered his speech during his inauguration in order to develop relations with the Soviet Union and end Cold War. All the speeches were delivered by most known personalities and made use of rhetorical devices such as allusion and repetition to make their message memorable in the hearts of the citizens of America.
On March 4, 1933, Franklin Delano Roosevelt stood before a nation and assumed the presidency of the United States of America. He recited the entire oath of office from memory, instead of merely answering “I Do” to a list of promises he was making to the American people. American citizens who had already endured four years of the greatest economic depression the nation had ever experienced. Americans who were desperately searching for help and relief from unemployment, financial crisis, and the possibility of starvation. In his inaugural address, Roosevelt vowed to bring to America the relief Americans needed, and to restore the nation to it’s position of power in the world. He promised a New Deal. While many wanted to believe that this
Economically there are many challenges we face as a country with our current fiscal policies. Since the 2008 financial crisis, there have been many debates in regards to how we should go about managing our financial system. Unfortunately, we as team believe that in order for us to stabilize our nation financial issues we are going to have to make restrictions in certain channels, which might affecting our way of life. One area needing attention is government spending and how it has to be reduced, and this would have a ripple effect in certain areas. Our elected officials will have to come to a compromise and determine which sectors are costly and can be reduced.
Here i am going to list every Thought that went through my mind while watching this Biased Video
The first and obvious effect would be a deficit in national budget. Without enough money to operate and satisfy community’s needs, the government could be in serious trouble. For taxes cover numerous aspects that directly influence people’s lives, once it displayed signs of insufficiency, standard of living would subsequently go down. According to Center on Budget and Policy Priorities, most of the federal government’s funding goes into defense, social security, and major health problems, with a total of 55 percent for three categories and only 8 percent for benefits for federal retirees and veterans, as well as 3 percent for all other purposes. Allowing tax cuts thus means letting community services weaken in quality and putting the national security at risk. Additionally, budget deficit can also lead to reduction in investment, net exports, and international asset flows, as analyzed by Laurence Ball and N. Gregory Mankiw, research associates of the National Bureau of Economic Research, in their “What Do Budget Deficit Do?” article. What results from these abatements evidently affects the economy heavily, both by devaluing the nation’s currency and decreasing the overall GDP. Considering such possible consequences, hence, it is no longer valid to state that lowering taxes equals growing the economic
Given the critical circumstances the United States economy faces today, the current fiscal policy, in addition to the changes that will be made in the future, is under intense scrutiny. During the Obama administration, which will soon come to an end in about six months, a variety of policies were created in attempts to create employment, raise our GDP, and boost the state of the economy, among other ideas. The fiscal policies created by Congress and the President demonstrate success in some areas, while failing in other areas, as many, including myself, would argue. As the 2016 election quickly approaches, it is important to remember previous fiscal mistakes and successes, and the current economy, in order to better grasp what will be necessary for a successful fiscal policy in the future.
It is my honor to address this assembly today. First, I want to thank God that I have been blessed with the great privilege of being born in this great country. A country that acknowledges that all men are created equal and provides its citizens with equal opportunity to achieve success. There are various ideas and philosophies regarding what this concept means and how it should be applied, but I am not here to present my own opinions or argue for a particular set of oppinions. Instead, I offer a word of encouragment and a reminder of the purpose for which you serve. Often times we as Americans, become so consumed with political ideology and party affiliation, that we forget that we belong to
In his acceptance speech to the Democratic National Convention on June 27, 1936, President Franklin Roosevelt mentioned many challenges and concerns facing the United States during that time period. In his speech the President used short-hand phrases, brief references, and pejorative naming to make his larger, political and ideological points. FDR used terms like ‘economic royalists’, along with phrases like ‘new despotism wrapped in the robes of legal sanctions’, to identify the large corporations, investors and employers, who according to him are trying to influence policies and control the government for their own personal benefits. The President also uses phrases like ‘Necessitous men are not free men’, to reiterate his concerns and to point out how the working people of America are being deprived from their rights by these very same privileged employers. FDR compares 1936 to 1776, referring to the American Revolution and its significance in putting the power back in the hands of the average Americans, and how it is necessary to check the power of the corporations in order to protect the interests of the American people and restore the power back in the hands of the people.
"A revolutionary change in our tax system is fundamental to re-energizing the American economy and restoring the American dream" (Moore 1). Currently, there are two major plans being considered to try and fix the tax system in the United States. These two plans are the Flat Tax and the National Retail Sales Tax. "Both the Flat Tax and a National Sales Tax would replace today's discriminatory tax structure with a single low rate. Either plan would promote the kind of capital formation that America needs to boost workers' incomes and raise long-term economic growth" (Mitchell 1). This means that the flat tax would take away the savings from the government and pass them on to the citizens and businesses. By doing this, there would be a rise in long-term economic growth.
This may sound like a tax plan that will relieve the financial burden on lower-income taxpayers, directly benefiting the poor, but in actuality, cutting taxes for all in a regressive manner gives substantially more money to the wealthiest taxpayers and a very small amount to lower income taxpayers. According to his plan, a typical American family of four will be able to keep at least $1, 600 more of
On April 8, 2013, President Barack Obama spoke at the University of Hartford on behalf of those who died in the tragic shooting at Sandy Hook Elementary School in Newtown Connecticut. President Obama addressed the people of the state of Connecticut and on a federal level. The broadcasting networks provided live coverage of President Obama’s speech, and a national audience listened as the president’s addressing the issues and the next steps forward for the country. The impact of this tragedy and previous massive shootings and Obama’s explanation have been a subject of a controversial debate. I plan on using the pentadic method to analyze President Obama’s speech regarding Sandy Hook and gun control. What we can learn about the method by
In order to close this inflationary gap, the government should use deflationary FP. By decreeing government spending (G), (therefore decreasing injections into AD), or increasing taxes (T), (increasing withdrawals from the economy), disposable income of the population can be reduced, and in turn AD can be decreased. In figure 3 the inflationary gap is shown, with the gap a-b displaying E>Y and c-d displaying W>J at the full employment level of national income. Other uses of FP include changing the tax system to provide more incentives to increase AS, or to alter the distribution of income, again through increases in T. One major problem with FP is that it is severely affected by time lags. Inflation is difficult to forecast, and in order to smooth out the business cycle, policy must be implemented at the right time, and with the necessary magnitude. If the policies implemented fail to work within these two limits, they could extend a boom period of unstable growth, or deepen a recession further, and so must be carefully implemented. These policies all work to combat inflation; however they could all prove detrimental to the British economy in it’s present state.
Since the global financial crisis of 2008, the UK government has been implementing various policies to combat the recession and stimulate economic growth. This essay will look at how effective the fiscal and monetary policies used since the crisis are in achieving the four-macro economic objectives. In addition, I will provide my input on the best way the UK government can carry out these policies.