Voltaire once said, “It is not inequality which is the real misfortune, it is dependence.” This rings true for Americans, who have a tendency to rely on others in search of solutions to our own problems. As a whole, we insist on sharing the burden, such as borrowing foreign money from countries like China to lessen our growing deficit. American businesses are similarly dependent on foreign relations, fueled by cheap labor for a greater profit on goods. On a societal level, Americans are dependent on our government for welfare and financial assistance whenever the economy crashes. Yet, the economy’s well-being is a direct result of the condition of American businesses, and federal programs like welfare are closely linked to our national budget. Thus, it is crucial for the United States to find a solution to this problem and to attain financial independence.
Americans are dependent on our government for several reasons, but most significantly because of our fluctuating economy. When the economy takes a turn for the worse, unemployment rockets upwards and leaves families in distress. Relief comes only through welfare programs that the government provides. For example, the Great Depression brought along several domestic programs that sought for what historians coined the “3 Rs”: relief, recovery, and reform. These programs stemmed from the New Deal, laws passed by Congress and President Franklin D. Roosevelt that offered financial assistance in a time of deep poverty. The Great Depression had been a reality check for countries all over the world as to how far the world’s economy could decline. It was a result of several factors, one being the huge stock market crash on October 29, 1929 (also known as Black Tuesday). Investors had qui...
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... collapse of oil prices and the careless "recycling" of petrodollars to the Third World by the Western banking system obscured the situation. Now, however, recognition of the truth is inescapable: no meaningful domestic government decision is free of international consequences, in view of our financial situation as the world's greatest debtor. (9)
As the world’s greatest debtor, we are responsible for our own problems, and needing aid from others to distract ourselves from finding a solution is immature. As a country that is a world power and represents freedom, it is ironic that we are chained down by the shackles of foreign debt. Together, it is crucial to turn the gears around and focus on saving our economy, rather than decide on what to spend the little budget we have on. Financial dependence is the ultimate reliance, and thus America’s greatest misfortune.
As the United States became engulfed in the hardships of the Great Depression, a controversy regarding the Federal Government’s involvement with charity and relievement of suffering became apparent. Was it the Government’s responsibility to aid in relieving Americans of such misery? Or, was it the job of the People to work together to reach a solution? An analysis of the two presidents who took turn in office during the Great Depression, Franklin Roosevelt and Herbert Hoover, reveals their opposing perspectives and philosophies regarding this controversy, and subsequently, Roosevelt’s and Hoover’s contradicting views played a fundamental role in America’s rise out of the Great Depression and the nature of government in today’s society.
During the 1920’s, America was a prosperous nation going through the “Big Boom” and loving every second of it. However, this fortune didn’t last long, because with the 1930’s came a period of serious economic recession, a period called the Great Depression. By 1933, a quarter of the nation’s workers (about 40 million) were without jobs. The weekly income rate dropped from $24.76 per week in 1929 to $16.65 per week in 1933 (McElvaine, 8). After President Hoover failed to rectify the recession situation, Franklin D. Roosevelt began his term with the hopeful New Deal. In two installments, Roosevelt hoped to relieve short term suffering with the first, and redistribution of money amongst the poor with the second. Throughout these years of the depression, many Americans spoke their minds through pen and paper. Many criticized Hoover’s policies of the early Depression and praised the Roosevelts’ efforts. Each opinion about the causes and solutions of the Great Depression are based upon economic, racial and social standing in America.
President Herbert Hoover took office shortly before the Great Depression began, in a time in which the country was doing well. Once the Depression struck, however, the country needed help desperately. In attempt to pull the country out of the Depression, Hoover followed his beliefs in trickle-down economics and passed laws that followed this philosophy, laws the gave money to large corporations, in hopes that they would be able to hire more workers, who would get paid and who would go out and buy products, which would increase the demand for products, which would increase revenues of businesses, which could start the entire circle all over again. In theory, Hoover’s plan would have worked, however, the country was in such trouble that nothing much at that time would help it. The Depression first had to run its course for a while, before anything could be done. During the Depression, it took time for people, especially presidents of large corporations, to humble themselves to a point where they would accept aid from the government. Often, they remained the greedy people they were and didn’t use the government’s funds for ...
However the interest we pay on our nation 's debt is very small compared to the overall budget. According to the Center on Budget and Policy Priorities only 7% of the total budget is spent on interest which is relatively low compared to things like social security which took up 24% of the budget in 2014 (Policy Basics). As long as the United States can continue to keep the interest rates low the debt will continue to be a begin threat. If the creditors of the U.S. were to spike their interest rates, America would be in trouble, however America has fairly good credit, and it should remain that way unless there is another scare like the government shutdown in 2011 (Riley). Overall the threat of the nation debt is a very minute problem in the grand scheme of things. According to The Richest, only five nations in the entire world are completely debt free, which is astounding when you consider that there are about 195 countries in the entire world (Mathers; How Many). These figures show how extremely difficult it is for a country to run without having a certain amount of debt, and America having debt should not be a concern. America is not even in the top ten countries whose debt make up the majority of their GDP (Country List). Which means that at the moment American’s should not be overly
“Make America Great Again,” the campaign slogan know all around the world that is determined to change the face of 2016 election when sixty nine year old Donald John Trump is elected. In 2004, the federal debt was $7.3 trillion. This rose to $10 trillion when the housing bubble burst four years later. Today it exceeds $18 trillion and is projected to approach $21 trillion by 2019. Debt is not the only the thing the United States has been dealing within the past years, such as immigration, abortion, guns, foreign policy, taxes, along with numerous other topics, yet Trump has a way to solve the unsolved and yes, “Make America Great Again.”
Welfare has been a safety net for many Americans, when the alternative for them is going without food and shelter. Over the years, the government has provided income for the unemployed, food assistance for the hungry, and health care for the poor. The federal government in the nineteenth century started to provide minimal benefits for the poor. During the twentieth century the United States federal government established a more substantial welfare system to help Americans when they most needed it. In 1996, welfare reform occurred under President Bill Clinton and it significantly changed the structure of welfare. Social Security has gone through significant change from FDR’s signing of the program into law to President George W. Bush’s proposal of privatized accounts.
The past few years, the United States has seen some rough economic times. The unemployment rate is extremely high and many people have lost their homes and businesses. Because there are so many factors in an economy, it is hard to find the right people to blame. The protest group “Occupy Wall Street” has come to the conclusion that corporations are making us poor by taking advantage of us and the governmental system. The share of income going to the top one percent of Americans has increased dramatically over the past few years and “Occupy Wall Street” is outraged.
The Great Depression was one of the greatest challenges that the United States faced during the twentieth century. It sidelined not only the economy of America, but also that of the entire world. The Depression was unlike anything that had been seen before. It was more prolonged and influential than any economic downturn in the history of the United States. The Depression struck fear in the government and the American people because it was so different. Calvin Coolidge even said, "In other periods of depression, it has always been possible to see some things which were solid and upon which you could base hope, but as I look about, I now see nothing to give ground to hope—nothing of man." People were scared and did not know what to do to address the looming economic crash. As a result of the Depression’s seriousness and severity, it took unconventional methods to fix the economy and get it going again. Franklin D. Roosevelt and his administration had to think outside the box to fix the economy. The administration changed the role of the government in the lives of the people, the economy, and the world. As a result of the abnormal nature of the Depression, the FDR administration had to experiment with different programs and approaches to the issue, as stated by William Lloyd Garrison when he describes the new deal as both assisting and slowing the recovery. Some of the programs, such as the FDIC and works programs, were successful; however, others like the NIRA did little to address the economic issue. Additionally, the FDR administration also created a role for the federal government in the everyday lives of the American people by providing jobs through the works program and establishing the precedent of Social Security...
Relief was regarded by America as the nation’s expeditious effort to counter-act the effects of the Great Depression of 1929 and uplift the majority’s economic and social welfare. This method was the government’s first-time attempt to provide direct relief from t...
The Great Depression often seems very distant to people of the 21st century. This article is a good reminder of potential problems that may reoccur. The article showed in a very literal way the idea that a depression can bring a growing country to its knees. The overall ramifications of the event were never discussed in detail, but the historical significance is that people's lives were put on hold while they tried to struggle through an extremely difficult time.
Devastation and desperation started on Thursday, October 24, 1929. There was a strong sense of panic in the air at the Stock Exchange. The stocks were dropping, alarmingly fast; the worried American tried desperately to keep their savings. Markets began to steady again on Friday and Saturday only to sweep back down the following Monday. By Tuesday the twenty-ninth all doubt was erased, many Americans lost everything they had on Black Tuesday (Andrist and Stillman 190). President Herbert Hoover made a decision and refused to provide emergency relief. Hoover believed that it was “strictly a state and local responsibility.” Most local organizations were far too small to handle this big of a situation (Andrist and Stillman 193). America needed a change, a change that would come at the next election time.
Following the decade of economic prosperity and peace of the Roaring 20’s was the 1930’s which is commonly known as the Great Depression, an era of distress and instability that played an effect on altering the social, political, and economical infrastructure of the United States. Before the Great Depression, the United States was a representation of a consumer-driven society, with people loaning money from banks, in order to pay for luxurious items, they could not afford. However, in 1929, the stock market crashed, resulting in the nationwide closures of multiple banks and marked as the begin of turmoil for Americans. With the burden of the nation on the backs of all Americans, the meaning of life was changed and people waited day by day for the government to act and steer the nation back on the track for economic and political stability and progress, to be a
The United States faced the worst economic downfall in history during the Great Depression. A domino effect devastated every aspect of the economy, unemployment rate was at an all time high, banks were declaring bankruptcy and the frustration of the general public led to the highest suicide rates America has ever encountered. In the 1930’s Franklin D Roosevelt introduced the New Deal reforms, which aimed to “reconcile democracy, individual liberty and economic planning” (Liberty 863). The New Deal reforms were effective in the short term but faced criticism as it transformed the role of government and shaped the lives of American citizens.
Years ago, the United States economy plummeted due to excessive rick taking and irresponsible spending practices. This left many families desperate for work, housing, and food. President Roosevelt put the New Deal in place, creating opportunities for work, and the economy was restored. While this was very helpful to the country, over time, social programs have become less effective. It has become difficult for people to remove themselves from government support. Individuals collect benefits from welfare, and in doing so, maintain a low standard of income. While financial aid programs and incentives were a great idea, today, these policies keep people from growing as successful and professional individuals.
A nation that possesses strong industry, a favorable trade balance, and a lack of dependency upon foreign states is optimum. This ideology is one that has been strongly advocated throughout America’s existence, by politicians from Alexander Hamilton to Pat Buchanan. When a nation faces a trade deficit, it means that competing states are producing more efficiently, and ultimately making profiting. Also, a deficit means that industry and jobs, which could exist domestically, are being “stolen” by foreign nations. According to mercantile policy, this is a zero-sum game; when a competitor is winning, we are losing. The United States faces this situation, having evolved from the world’s largest creditor nation during and following World War II to its current position as the world’s largest debtor. Because America imports much more than it exports, an additional 600 billion dollars is needed every year to balance the equation. This money is “borrowed” through the sale of government assets, sometimes to domestic investors, but increasingly to foreign ones. Many circumstances can be blamed for this situation: cheap foreign labor, foreign government subsidy, and closed foreign markets, among others. The question therefore arises: how to negate obstacle...