Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Introduction to debt crisis
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Introduction to debt crisis
On October 1 the U.S. Government shutdown, that’s right the only thing keeping us from complete and total anarchy shutdown for 16 days. So why are we treating it like this is some common media trash. Our Government may be acting like a bunch of kids when it comes to the debt crisis but having to shut down over a disagreement seems like a bit of a drastic measure. The shutdown caused many programs to shutdown, though many more where still able to function. If the shutdown had lasted longer there would have been an even bigger issue. Something this big isn’t a joke this could have turned out significantly worse and people need to understand this. This debt problem that had a large impact on this shutdown didn’t just pop out of nowhere. This thing’s been piling up since Bush was in the Oval office, and since then the issue has been avoided and unnecessary spending has never been higher. U.S Troops where geared up and flown all around the globe costing the Treasury billions. Many of companies and banks that were unable to make it on their own were all bailed out costing this country over $700 billion. Hundreds of thousands of unemployed families where given enough money to live a nice middle class lifestyle and it only cost us 520 billion dollars, and let’s not get started on the free health care. And that’s just some of the spending that’s gotten us to our steadily rising $17 trillion debt situation. How reliable of a country do we look with an outstanding debt problem and a non-responsive government? If this keeps up we won’t be the United States of anything and it’s very possible that our debts will be repaid with your freedom. The shutdown lasted from October 1st though the 16th. That’s 16 days without a government to hold the ... ... middle of paper ... ...utdown Underscored Vulnerability of US Public Health and Biomedical Research to Political Wrangling ." 310.18 (1013): 1907. Jama. Web. 27 Nov, 2013. Brown, Frederic. "Government shutdown has lasting effects on U.S. companies." (2013): n.pag. cbsnews. Web. 27 Nov, 2013. Morello, Lauren, Heidi Ledford, Hellen Shen, Jeff Tollefson, Alexandra Witze, and Sarah Zhang. "Pain of US shutdown lingers." 419. (2013): 502. Web. 3 Dec. 2013. Potts, Tracie, perf. NBC Washington: WRAL, Washington DC, 14 10 2013. Television. Sahadi , Jeanne. "Next default risk could come as early as March." (2013): n.pag. CNN Money. Web. 29 Nov, 2013. Stein, Sam. " Government Shutdown's Impact Detailed In New Report ." (2013): n.pag. Huffington Post. Web. 27 Nov, 2013. Tyson, Alec. "The last government shutdown and now: a different environment." (2013): n.pag. Pew Research Center. Web. 27 Nov, 2013.
When this finding infringes on someone’s lifestyle or corporate interests, the reaction to the discovery becomes unfavorable. A contributing factor to the rejection of scientific findings is directly related to political affiliation. Since the 1970s, conservatives have experienced a continuous decay of trust in the scientific community. By 2010, the contrasting trust in the scientific community has become more evident, with liberals retaining more trust in them and conservatives reducing theirs. Climate science has contributed greatly to this conflict.
Auxier, Richard C. "Reagan's Recession." Pewresearch.org. Pew Research Center RSS, 14 Dec. 2010. Web. 13 Nov. 2013.
Teslik, Lee. "Backgrounder: The U.S. Economic Stimulus Plan." The New York Times, January 27, 2009.
Washington Times - Politics, Breaking News, US and World News. 6 Jan. 2010. Web. 16
Gerson, Michael . "The real-world effects of budget cuts." The Washington Post 7 Apr.2011: n. pag. Print.
Mulligan, Casey B. "Who Lost Work During the Great Recession?" Economix Who Lost Work During the Great Recession Comments. New York Times, 07 Sept. 2011. Web. 11 Mar. 2014.
...ment of Homeland Security. (2010, January 28). Fy 2011 budget in brief. Retrieved from http://www.dhs.gov/xlibrary/assets/budget_bib_fy2011.pdf
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
The US has been in and out of debt countless times throughout history, going as far back as the Civil War. However, debt did not become a truly relevant problem until much later, in the 1980s (Budget Deficits). Up to that point, large budget deficits were generally only allowed during wartime, but this pattern ended after the Great Depression. Roosevelt’s New Deal meant that the government spent much more than it previously did, even after the economy improved (Budget De...
"The Great Recession." State of Working America. Economic Policy Institute, n.d. Web. 24 Apr. 2014.
The U.S budget deficit over the years has been a problem but lately the deficit has shrunk. However, what made the U.S budget deficit get to where it is today and what will it be like in the years to come. Throughout the past the U.S has operated under a deficit. This means that the U.S Spent more money than it was taking in. The cause of the excess in spending was different depending on which year. Some of the causes were war, increase in spending , and economic downturns. There were different acts passed to try and control the deficit problem. The deficit at the present time is declining. This decline is due to the improving economy, sequester, and a tax increase on high-income households. The big factor that went into the decline in the deficit for 2013 was the payment that Fannie Mae and Freddie Mac made. The deficit decline in the present time may make some think the U.S could get out of debt but it has been projected that the U.S deficit will start to increase once again.
Villemez, Jason, and Dalia Mortada. “Chronology of the September 11 Attacks and Subsequent Events through October 24, 2001.” George Washington University. N.p., n.d. Web. 20 Jan. 2014. .
"Impacts of the Affordable Care Act." USA Today. 16 Mar. 2012: A4. eLibrary. Web. 14 Feb. 2014.
Whitehouse, Office of Management and Budget (OMB), 1 Jan. 2009. Web. 13 Apr. 2014. .
Obama, Barack H. “Remarks by the President on the Economy -- Knox College, Galesburg, IL.” Galesburg, IL. Illinois, Galesburg. 24 July 2013. The White House. Web. 05 Apr. 2014