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Summary: Balanced Budget

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It is important for State and Local Governments to have a balanced budget for numerous reasons. One year you can have great revenues and not have to worry about where money is going to come from for the state paid programs like: foster care, pension pay, education, workers compensation… these are just to name a few. Without a balanced budget we see state governments over spending money the year that revenues are up and then raising taxes when they are low. According to the video, just for California, they spend $52.5 million more per day than what they take in for tax revenues when there is not a budget in place. This is an extraordinary amount of money. There is a $500 billion debt for pensions alone. Arnold is pushing for a budget reform…show more content…
Us Americans live way beyond our means. The spending that we see on a personal and government level is outrageous. We are bringing more into the country than what we put out. A lot of times we sacrifice the quality, which we give, over the quantity, which we receive from other countries. We spent $3.5 trillion last year with a $483 billion deficit (Government Spending, 2015).
We need to balance our budget on both a federal, state and local government levels. Obamacare needs to be repealed. It is costing more than it is helping. More and more Americans are paying higher amounts out of pocket because of the flaws within this system. It is not a good fit for everyone. This is just one area that could help.
Without a proper balanced budget our economy will continue to go into debt. This affects everyone within the United States. Talks regarding cuts within the military branch and education branch are ludicrous. Without proper funding to our military we cannot be in a position where we are prepared to protect ourselves. Education is a key thing in the United States. It is hard enough to pay for college and to make sure that our local schools are getting the supplies and equipment that they need to ensure the best opportunity to educate our
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