Our government is in chaos when it comes to the budget; in other words, the world revolves around money and individuals in our government are responsible for allocating the allotted funds to each subdivision of the public sector. The chaos takes part mainly in the fact that our nation is always short on money, meaning that every subdivision in the public sector could always use more money, however, we have a budget put in place to ensure that the money is divided fairly in terms of highest necessity. For example, the government funds entitlement programs, such as, Medicare and social security, which are also transfer payments. These entitlement programs are a necessity for our nation that we devote money to, as to guarantee individuals health and safety in the future. The funding of entitlement programs is where the dilemma ensues. There are many different beliefs in how the money should be distributed amongst the entitlement programs. For example, Democrats are pushing for levied social security for anyone making over 118,000 per year, whereas, Republicans are wanting to change the income level to anyone making over 200,000 a year does not get social security anymore. The ideas of the two political parties are the same; it is the number that carries the difference. The Democrats want the higher income levels to pay higher taxes because …show more content…
The only way to fund everything is having an enormous increase in the money supply, which could be done through raising taxes, which no one wants. Another solution is to take the allotted funds for a different section of the budget and transfer the money into entitlement programs. The two fundamental options are to either make the budget “pie” larger by increasing taxes, or to divide the budget “pie” into smaller sections, decreasing the funds in one area to afford another