As millennials, deficit spending is something that we have always grown up with; this is no different than generations past. The Bush administration of the late 80s and early 90s spent a tremendous amount of discretionary funds on the Desert Storm initiative and other various military endeavors. The Clinton administration then shifted more toward internal spending of discretionary funds, attempting to stimulate internal economic growth and stability. Under the Clinton administration, America experienced the first budget surplus in almost 30 years in 1998, which lasted until 2001. The second Bush moved back to a large military focus, while Obama has favored internal stimulus packages. So is deficit spending is as necessary as the freedom with our budgets over the last several decades indicates? As millennials, most feel the last 30 years indicate that it is an integral part of our economy: there has never been a moment where the national checkbook has been completely ignored. Joseph Stiglitz, a nobel prize winner, argues that deficit spending increases economic growth and decreases long term government debt (governmentisgood.com). Deficit spending can stimulate the economy by putting money into the system through government sponsored projects and welfare spending. These projects employ workers and strengthen infrastructure. He points to instances such as WWII, when national debt was 120% of the GDP. This specific instance pulled us out of the Great Depression and set the
Many argue that the most powerful branch in government is the Executive Branch. The President is considered as the most influential and the most important position in the U.S. government. However, the powers granted to Presidents and the prerogative they have exerted are not listed in the Constitution but instead have been adapted and expanded upon by each President. Although the Constitution does not define the powers of the President, it has defined Presidential powers in terms of peace, war, and emergency. A recent expansion of Presidential power, exerted by Bush and then Obama was this “War on Terror (WOT)”. President Barack Obama and his predecessor President George W. Bush have both expanded the powers of the President through the
The position of president has evolved in the almost quarter millennium since the framers created the Constitution. The main issues facing the framers included the position’s structure, independence, and power. Although the modern presidency is different from the framers’ design, they would approve of it, since the concerns that the framers had with the executive still have been prevented. When creating the presidency, one issue the framers decided quickly was the structure, particularly having one president. This satisfied the needs of both the Conservative and Radical Republicans, by allowing for quick action, while still providing clear accountability.
As a new President takes office, it is the inauguration address that marks the beginning of their term. This formal speech marks the first time the President lays out his intentions as the leader of the country. The inaugural addresses often make promises to address the nations concerns and issues. Usually the addresses that have the greatest impact, are the ones most remembered. Consider President Franklin D. Roosevelt and President Barrack Obama, both of these Presidents gave strong inauguration addresses, however it was Roosevelt’s words that seemed more realistic, and ultimately had a greater impact for the American public.
Since the end of the Second World War the United States has arguably been considered the greatest country in the world. The supposed leader of the free world, strongest and most powerful country in the world. The definition that the United States is the ‘greatest country’ in the world is open to discussion and can be compared at many different levels, however, for the purpose of this essay, the term ‘greatness’ is measured by its economic prowess and its hard power. The term ‘hard power’ is defined as ‘a coercive approach to international political relation, especially one that involves the use of military power’. After eight years of Obama doctrine, is it time to make America great again” must be broken down into two parts. What is Obama Doctrine, does it exist and then compare his Doctrine also tackle the quote of ‘making America great again’. This essay will argue that Obama Doctrine does exist and is linked to his foreign and domestic policies. It will also argue that America is still great but for different reasons. It will provide evidence that with the Obama doctrine it has moved from the historic use of hard power to a soft power footing. ‘Soft power” is defined as ‘a persuasive approach to international relations, typically involving the use of economical or cultural influence’. However, even with this switch in posture, the United States has remained great. Albeit for
It is ambiguous as to how President Barrack Obama shapes our politics in terms of our political regime, but it can be determined through the present outcomes of his leadership today. In The Politics Presidents Make, by Stephen Skowronek, describes that there is a life-cycle of inaugurated presidents through the history of the United States. A political regime is defined as a full cycle of presidents that induce change in our politics until it is repeated again. Through this, it is possible to determine where President Obama would stand in our political time. Skowronek also mentions four leadership categories in which past presidents are placed in: politics of reconstruction, politics of disjunction, politics of
In this paper, I intend to analyse the extent to which the current Labour administration shows the characteristics of a presidential government. To do this, the term presidential' must first be defined. A definition of a presidential government that is generally accepted by political analysts is a system of government in which the powers of the president are constitutionally separate from those of the legislature.' The British system of government is parliamentary and does not match the definition of presidential. Therefore, the question must be answered by looking at the individual features of a presidential government and comparing them with aspects of the Labour
An advantage to deficit spending is when the government steps in with tax cuts and lower interest rates for businesses so they can invest in hiring new employees which in turn the unemployment rate goes down and consumers start spending their money. Another advantage to deficit spending is when the government gives tax rebates to consumers, which stimulates the economy as well. Stephanie Kelton, from New Economic Perspectives, says consumer spending makes up 70% of the GDP. The other 30% is made up of Investment Spending, Government Spending, and Net Exports. How can the other 30% make up for the consumer’s 70%? This is why it is advantageous for deficit spending to keep the economy thriving. Unfortunately, there are always disadvantages that come
The historical federal spending of the government has already done significant damage to America; spending habits have increased the federal budget deficit at alarming rates adding $2.7 trillion to the national debt in two years, $1.4 trillion in the 2009 fiscal year and $1.3 trillion in 2010. (Montgomery) These deficits are largely caused by increases in spending rates. The current Obama Administration has used the recession in their favor to expand both the government and spending.
George W Bush’s presidency can be associated with an infamous term that stood out from the State of the Union address, that term being ‘Axis of Evil’. In this context, Bush categorised the countries of Iran, Iraq and North Korea as being ‘evil’ states. This neoconservative comment left little doubt as to what Bush’s foreign policy towards these states was going be (Baxter and Akbarzadeh, 2008). This comment would then define George W Bush’s presidency, due to the controversy over this phrase and the results that it would have on US foreign policy as “rarely had such a rhetorical device had such devastating consequences” (Ansari, 2006:186). This paper will argue how the use of the word ‘evil’, and the categorisation of these ‘evil’ countries, had a large impact on US-Iran relations.
Deficit spending will occur when the government or even a business spends more money that what it makes in revenue (“Governmental Deficit Spending,” n.d.). It seems like this technique would only have to be used every once in a while. However, deficit spending is a fairly common practice by the government and many businesses, but could spell doom if there is failure to plan accordingly when paying off the debt (“Governmental Deficit Spending,” n.d.). For the government, it is used as an instrument to stimulate economic growth while asserting it still has some type of financial stability (“Governmental Deficit Spending,” n.d.). There are great advantages the government can claim as being beneficial for the economy when practicing deficit spending.
After December 26 1991, when the Soviet Union fell, the bipolarity of the international system was effaced. In the post- Cold War era, the United States faced the problem, without a defined enemy, to adopt a new foreign policy. To begin to analyze the political foreign policy of the United States, one must first understand the international system. According to Political Realism, a theory of international thought, the state is the key unit within the acts within the system. These states act according to their key norms, which are allowed by the system. However, these sates are also affected the domestic and external factors which control how they act. The domestic factors include political culture, their economic system, the leadership
Barrack Obama’s tenure as President of the United States is coming to a close and voters should understand how to gather reliable information on new candidates, such as Jeb Bush. Even though paying attention to all four major types of media platforms; digital, legacy, a candidates’ own media, and social media, creates a sound informative opinion on Republican Presidential hopeful Jeb Bush, digital media provides voters with the most holistic view. The benefits of digital media, throughout the week of September 15th through the 22nd, created an opportunity to construct a different point of view on Bush and what he stands for.
Many contend that deficit reduction is imperative to our prosperity and economic recovery. The deficit is blamed for a variety of economic ills including high interest rates, unemployment, the trade deficit, the low rate of national saving and low productivity growth (Shaviro, 1997).
The underlying truth of deficit spending is the same whether it is used in finance, economics or government that the more is spent, the less income is made (Buzzle, 2014). Many economists argue that deficit spending will hinder economic growth while others disagree. Deficit spending has been the topic of debate for a very long time. Deficit spending is “when government's expenditures exceed its revenues, causing or deepening a deficit. This excess spending needs to be financed through borrowing, likely from foreign governments. The increased government spending can help stimulate the economy as more money flows in, but the jump in borrowing can have an adverse effect of raising interest rates” (Investopedia, 2013). In simpler terms, deficit spending is when a governing body of a nation needs to borrow money from other nations due to the nation being in a recession. Governments borrowed against future revenues so that they are able to finance domestic welfare spending before the twentieth
For as long as Americans can remember there has always been a federal deficit. In fact, the only time in American history when there was no federal debt was under president Andrew Jackson, and it only lasted a single year(Wall Street Journal). The federal government never managed to pay off the debt again, although some administrations, like Coolidge’s and Clinton’s, have managed to run brief surpluses(Wall Street Journal). Yet today there seems to be no limit on the debt and deficit spending, and a key question has been pressed into the forefront of politics and fiscal policy, “is