Did we forget history? Did not Hoover advocate a tax cut for the wealthy, on the basis that the excess money would be used to hire the unemployed? Did it happen? No, the recipients of this excess money simply pocketed the handout without even a thank you.
This all sounds good, but bringing the number on this national debt clock to zero has far-reaching consequences too; beginning with individual investors. This means the end of the U.S. savings bond, a favorite investment of Americans often from the time their born. These investors would have to look for another alternative to park their money. In addition, the foreign investors who have relied on the security of U.S. treasuries, particularly in times of war or financial crisis, would have to go somewhere less safe. These individual investors could decide to put their money in the bonds of large U.S. corporations or they could choose to go outside the United States and put their money in Japanese or European government bonds; and that has consequences for the strength of the United States economy. A possible decline in dollar investments could drop the value of a dollar; this, in turn, could lead to higher inflation, higher interest rates, and an overall slowdown of the United States economy. Paying down the debt is not a bad idea, economists say; but paying it down to zero is. If the government actually succeeded in paying down the debt and stayed committed to keeping it at zero, gives up the best weapon, our government has, for managing the economy. One of Washington's most effective ways to fight recession is to spend its way out of it, using government programs financed by government debt to rouse the economy; thus, eliminating the debt could backfire. "Historically much more damage has come from efforts to pay down the national debt- an attempt by Roosevelt " gave the depression a second wind-.
When the government is spending money frivolously, the deficit becomes dangerous.
The concept that relates to National Debt is education. ... The National Debt of America has been very high for a long time. ... National Debt is still a huge problem in America. ... Free and fair trade has plays a significant role in national debt. ... Fair trade makes the national debt stay the same or increase. ...
This chapter covers all U.S. debt, called National Debt (national debt is here defined as the sum of all recognized debt of federal, state & local governments, international, private households, business and domestic financial sectors, including federal debt to trust funds - but excludes the huge un-funded contingent liabilities of social security, government pensions and medicare). The National Debt Total is now over $27 Trillion, or $101,000 per man, woman and child. ... National debt is here defined as all U.S. debt (sum debt of federal and state & local governments, internati...
For years, the issue of national debt has been a major political issue. ... The national debt has always been a major concern of the American people, whether they truly know what it is all about or not. ... High debt also deducts from national income, which subsequently reduces individual income Young Americans actually have the most to lose if the national debt is not dealt with. ... This is set aside our huge debt which is bring our national debt to sky rocket. Overall, it is apparent that the national debt is an extremely serious matter for American. ...
National Debt The United States, although it is one the most prosperous nations in the world, is not invulnerable to economic problems. Part of that problem is the National Debt. During the 80's and early 90's the national debt had been growing constantly, and by 1997 had grown to nearly $6 trillion. ...
National debt has been upon us since the beginning of time and has caught up with us today. Alexander Hamilton was a federalist and believed that the US needed to think of state debts as national debt. ... John Steele Gordon discusses all the aspects of Hamilton's plan to help the national debt, and tries to prove that Hamilton's program to fix national debt was a "blessing" to the national government. ... National debt is constantly increasing and decreasing because of a number of factors. ... The National Debt today is around 18 trillion dollars. ...
Even if Bill Gates donated every penny he owned every day for the rest of his life, our national debt would not even be lowered by one billion dollars. ... Bush, from about 2001 to 2003, 1.6 trillion dollars were added to the national debt. ... When they were made exempt from paying, the economy suffered over time, and the national debt increased exponentially (Hacker, pp. 55-64). ... Military spending from 2001 and 2003 accounted for about 1.3 trillion of the current national debt (Hooker, p. 400). ... The national debt has surpassed 17 trillion, and it comes from many different sources ov...
The first $1 trillion in spending will be cut in the next decade - the same amount that the debt ceiling will be raised (Jackson). ... If the deal passes through Congress, it will stave off any danger of national bankruptcy until at least 2013 (Norman). ... And it will begin to lift the cloud of debt and the cloud of uncertainty that hangs over our economy," said Obama (Hulse). ... In addition to raising the national debt ceiling, the deal also includes other reforms. ... The ultimate goal is to reduce the debt by an additional $1.4 trillion over ten years. ...
Solutions and their effectiveness will be presented and my argument is that debt relief is a definite solution to HIPC, debt forgiveness was found to be the most affective. ... Many have huge debts which they cannot pay. ... I feel that this debt crisis should be a concern to everyone. ... Countries with debt run into problems when improving their economy and their living standards due to the debt burden. ... Both Rescheduling and Refinancing are ways of dealing with debt problems. ...
Student debt is an epidemic in today's society. ... In addition, debt would be forgiven if all payments on the loan are made on time and in full. ... Many, however, are not as fortunate as Obama with their debt. ... Other parts of the American economy are reaping the effects that student debt is imposing. ... Citizens of America are confronted with a set of ugly choices to solve this problem; the government should raise taxes, cut federal spending in other areas, or increase the national debt. ...
