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Government Debt Thesis Statement

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Cut! Cut! Cut! Topic: Government Spending/US Debt Thesis Statement Do you know what the biggest problem today 's is in the U.S.? The problem is that the government is spending way too much money, which is causing the US debt is continue to rise. This problem must be solved as soon as possible. To solve this, we must cut government spending by eliminating all department that are receiving money that are not effective. Anyone and everyone that lives in the U.S. should be concerned, worried and, more aware.The more aware of the issue people in the country the more they are willing to force our national government to make changes to reduce the country 's spending and debt. Intorduction What if there was less government programs that you …show more content…

National Debt Clock, the current amount of debt the United States is in is over 19 trillion dollars. One of the ways the government plans on paying off some of that debt and by having the money to spend on mandatory and nonmandatory necessities this year is by borrowing money. This will only cause the debt to get bigger and bigger because they will be borrowing more money than what will be paid off. The effects of the government spending money it does not have is that the problems will only get worse and not just for future generations but also for current generations. Even current generations may have to face significant higher taxes on many things such as tax revenue, higher interest rate and even have an impact on the job pool. For example, according to the U.S. Inflation Calculator, since the year 2000 to 2017, inflation has increased nearly 41.0%. That means if you bought an item for 5,000 dollars in 2000, it would cost you 7,051 dollars today for the same item today because of …show more content…

This is a problem for everyone in the country as everyone will be affected by whether or not the government changes the path that is going down or continue down the bad road of a very soon possible financial collapse. How bad really is our debt you might wonder. Well the debt is projected to be over 22 trillion dollars by 2021. In an increase of about 3 trillion dollars at our current rate in just 4 years. That would be more than 61 thousand dollars per citizen in the US but for every taxpayer it would be over 170 thousand dollars. During a personal interview I had with an expert in economics named Jason who has a degree in economics, entrepreneurship and who has also started his own business,I was able to ask a few questions about his thought on the government

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A publicly funded debt connects states and individuals closer to the government and gives it a reason to continue functioning for the people. Furthermore, It allows individuals to become budget conscious

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While this is a large national debt, this money spending demonstrated how the government recognized its responsibility to the welfare of their citizens, especially during a time as drastic as the Great Depression. This will enhance the idea of the government actually putting a foot into the poor pockets of the public, to actually deposit rather than

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By providing direct relief and financial assistance to the needy, the economic cycle will begin again, starting with increased income. In the past, our nation attempted the process of trickle down economics, which provides money to CEOs and bosses, in hopes that the money would work its way down to the average worker. However, the rich, for the most part, never used the money in a way to benefit jobs and the nation. Along with providing relief to the needy, the government must continue to play a big role in the nation’s economic recovery, as we have effectively for the last four years. By taking a large government approach, the government will invest in creating jobs, helping businesses, and providing relief.

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Name:Dawson Whitcher Income inequality might be the biggest problem our new president will face. There are many reasons why it’s a problem in America. Income is a difference in opportunity chances if you have more money you have a better chance of getting a better job. Examples of income is are food drives in schools some people with income have trouble going to places like school, job, or stores when needed. There are many more problems than this.

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Many would argue that by relieving debt from students, it would act as an economic stimulus. Students unburdened by their financial load are likely to pour their money right back into the economy by purchasing goods or services. As Webly mentions, "college graduates are the type of people society needs to do things like start businesses, buy homes and cars, invent things, and make babies" (130). Their extra cash would flow back into the economy increasing revenue, creating new jobs and businesses that would lead to a growing financial system. But this solution causes disillusionment, a one-time payout from the government will not solve the economic crisis like it promises.

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Hello, in this white paper I am going to tell you why we need to cut government spending. First, let me show you this chart for total government spending. Most of your tax dollars are spent on programs that don’t work and give money to fraudsters. I will first start by explaining why Medicare does not work and gives money to fraudsters. Medicare wastes government money because it is a corrupt system and is overly bureaucratic.

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The national debt has recently been growing, so how does it really affect individuals? Interest rates go up on credit cards and loans, this is great for the federal government but not for you. National debt refers to government liabilities and there are various concepts of debt. There is public debt, where treasury bonds are bought this means that portions of the debt are held by government accounts and the other portion is held by the public. Debt by the public is the debt being held by the public and it exceeds government debt.

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According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.

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The other elements of legislation including age retirement, SSDI, SSI, Medicaid and Medicare help each individual for a continuous source of income and to improve their health. However, there are individual who will take advantage of these benefits and is causing damage on each program resource. Congress needs to address how to preserve the benefits for those who truly need them versus the ones who are capable of working to provide for their family. It is predicated by 2033, there will be 2.1 workers for each beneficiary. In order for Social Security to continue functioning the working population has to increase compared to the retired

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College costs are skyrocketing, and at the same time we have students wanting to learn and become educated in order to contribute their knowledge to society. The student loan debt crisis is weighing upon us, so we need to reform the system. If I had the power to make a change, I would cut the costs of college education and lower student debt by a reformed banking system. One of the major causes of the student loan debt crisis is high interest rates for student loans. Too many banks offer loans and do not think how these students are going to pay back the money.

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The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.

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“This approach is bad economic policy and bad education policy. An unprecedented federal spending increase for education will not improve economic growth -- and past experience strongly suggests that this plan will not improve American educational performance” (lips 2). Increasing school funding the wring way can cause the economy a lot of money and may lead to huge budget cuts or even jobs lost. There is a lot of public school across America that are underfunded so trying to fund them would cost a lot of money. Increasing school funding is very risky because if the graduation rates don’t go up when students get older they would face the problem of being in debt and won’t know how to pay it off .

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Inflation is the rate at which the general level of prices for goods and services is rising, and, then purchasing power falling over a period of time. When price level rises, dollar buys fewer goods and services. Therefore, inflation results in loss of value of money.

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CHAPTER 2 LITERATURE REVIEW INFLATION (InvestorWords, 2015) stated that inflation is the increase in the general price level of goods and services in economy, normally caused by excess supply of money. Inflation usually measured by the Consumer Price Index (CPI). When the cost of producing goods and services goes up, the purchasing power of dollar will decrease. A customer will not be able to purchase the same goods and services as he/she previously could.

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