U.S. Deficit to Understand the Essay

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S. National Debt Clock, 2011).

Too, sometimes when recession hits, deficits rise, and with less economic activity in progressive economies that count on economic activity, deficit spending must occur in order to continue to provide needed goods and services. There are two major factors at work within the U.S. economy, though -- and in essence the global economy since fiscal policies are so tied together in the modern age. Deficit spending is real, but at the amount of money (e.g. $15 trillion) is so vast and in so many complex areas (foreign countries, bonds, projects, etc.) that it is difficult to express and define except as a number. Since it has little meaning for most people, there is little impetus for change -- "it has worked in the past, it will go up and down later." Second, programs are funded based on yearly cycles; it is wasteful to fund a program in 2010 that will take until 2015 to develop and 2017 to reap benefits; and then cancel it in 2012 to save money.

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Deficit spending allows the economy to grow, keeps the population happier with jobs and material goods; and with our presidential election system only every 8 years, what real chance does a candidate have to come in and refuse to spend until the budget is balanced? (Parenti, 2011). Thus the spiral because of cutting taxes for the wealthy, military spending, and the interest on the national debt puts us into spiral in which we work even harder just to pay the monthly debts.

REFERENCES

Hamilton, J. (2010). The U.S. Economy. Farmington Hills, MI: Greenhaven Press.

Parenti, M. (2011). Democracy for the Few. Boston, MA: Wadsworth.

U.S. Mint. (2011). Information on Money. USMINT.GOV. Retrieved from: http://www.usmint.gov/mint_programs/american_eagles/index.cfm?flash=no&action=American_Eagle_Gold

U.S. National Debt Clock. (December 2011). Outstanding Public Debt. Retrieved from:

https://mail.google.com/mail/?ui=2&shva=1#inbox/1346437de8c33aa8.....

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