U.s. Government Budget Deficit And Debt

1351 WordsNov 30, 20156 Pages
There are many original and ingenious opinions and analysis related to a topic on U.S. government budget deficit and government obligations and liabilities. As a result of the economic circumstances and current consequences of budget deficit in the United States there have been many controversial hypotheses of what future may bring to the American people. Therefore, I would like to face deeply inquire in to of how our countries government deficit and outstanding debt will affect its citizens and I also assume there are new challenges taking place as the consequence of rising government debt. To provide evidence to the current U.S. government budget deficit and government external debt situation we should take a closer look at the government budget deficit, national and personal debt in the country. First, I am going to start with a definition of U.S government deficit: It is essentially the difference between what the U.S government spends in any fiscal year and the revenues it takes in. Any time the spending exceeds the revenues, the federal government runs a deficit. As many may already know the United States must increase its revenue or reduce expenses during the next decade in order to farther debt and loss of creditability in the world financial markets. There are several ways to balance the U.S government without giving up the nation’s increase of collective productivity and growing economy. Government can reduce expenditures by finding more cost
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