Federal Budget Deficit

Topics: Tax, Public finance, United States public debt Pages: 4 (1337 words) Published: April 16, 2013
Excessive Borrowing: Our Federal Government's Budget Deficit
Maria comes home one day earlier than usual. Her family, two daughters of age five and eight and a stay-at-home husband, is surprised to see her so early and unexpectedly. The tired look on her face reveals the experience she had at work. She brings out a sluggish smile as her daughters rush up to greet her with their warm embraces, reminding her of the happiness they constantly provide but also saddened by their questionable future. Quietly, she sits down in front of her anxious spouse as he patiently awaits the news, sensing the tension in the air.

Many people like Maria face the ultimate doom of losing the only method they can gain family income, especially in homes where only one spouse is employed. Laying off workers is the government's "plan" for reducing America's deficit. Of course, getting rid of the executive CEO whose company had a rough year would be bad because we all know not to bite the hand that feeds you. The federal government is planning on making the gap between revenue and borrowing smaller by making cuts here and there throughout certain interests of America. This makes sense because in all economic situations, if you are spending more than you have, then you either need to cut back on how much you spend or manipulate ways to increase revenue.

Cutting military spending has been big in debate whether as to reduce our defenses or not. Many people speculate that military cuts are sound in reducing the deficit because it is too large for us to afford today. It is overlooked that we have been dropping our armed forces significantly over several decades since the early 1980s, from 2.1 million to 1.4 million in 2010 (Samuelson). The resulting savings of lowering military spending would be little, since there isn't much else to cut from the already reduced forces. If our national security is a large concern, especially after 9/11, then why expose both troops and citizens at risk...

Cited: Samuelson, Robert J. "The Dangerous Debate over Cutting Military Spending." http://www.washingtonpost.com/opinions/the-dangerous-debate-over-cutting- military-spending/2011/10/28/gIQAnPWEXM_story.html. 2011. Rpt. in The US Deficit. Ed. Kathy Jennings and Lynn M. Zott. Detroit: Greenhaven Press, 2013. Opposing Viewpoints. Opposing Viewpoints In Context. Web. 25 Feb. 2013.
Sanandaji, Tino, and Arvid Malm. "Raising Taxes Will Not Resolve the Budget Deficit."The US Deficit. Ed. Kathy Jennings and Lynn M. Zott. Detroit: Greenhaven Press, 2013. Opposing Viewpoints. Rpt. from "Obama 's Folly: Why Taxing the Rich Is No Solution." http://www.american.com/archive/2011/august/obamasfollytaxingtherich/
article_print. 2011. Opposing Viewpoints In Context. Web. 25 Feb. 2013.
Conason, Joe. "Deficits Do Not Matter." The Federal Budget Deficit. Ed. Susan Hunnicutt. Detroit: Greenhaven Press, 2010. At Issue. Rpt. from "Dick Cheney Was Right: Deficits Don 't Matter—and Republicans Who are Complaining About Barack Obama 's Spending Are Hypocrites." Salon.com. 2009. Opposing Viewpoints In Context. Web. 25 Feb. 2013.
Aaron, Henry J. "The United States Needs to Address Two Distinct Budget Deficits."Government Spending. Ed. Noël Merino. Detroit: Greenhaven Press, 2013. Opposing Viewpoints. Rpt. from "A Tale of Two Deficits: Stop Treating Them Like They 're the Same Thing!" New Republic (1 June 2011). Opposing Viewpoints In Context. Web. 25 Feb. 2013.
Foy, Andrew, and Brenton Stransky. "The Bush Tax Cuts Were Good for Economic Growth." Government Spending. Ed. Noël Merino. Detroit: Greenhaven Press, 2013. Opposing Viewpoints. Rpt. from "Lying About Bush 's Tax Cuts. "www.americanthinker.com. 2010. Opposing Viewpoints In Context. Web. 25 Feb. 2013.
Stearns, Richard. "Congress Should Not Cut Foreign Aid." Is Foreign Aid Necessary? Ed. David Haugen and Susan Musser. Detroit: Greenhaven Press, 2013. At Issue. Rpt. from "Cutting Foreign Aid: Not the America I Love." Huffington Post. 2011.Opposing Viewpoints In Context. Web. 25 Feb. 2013.
Morris, Dick. "Congress Should Cut Foreign Aid. " Is Foreign Aid Necessary? Ed. David Haugen and Susan Musser. Detroit: Greenhaven Press, 2013. At Issue. Rpt. from "Cut Foreign Aid Budget Now." http://thehill.com (29 Mar. 2011). Opposing Viewpoints In Context. Web. 25 Feb. 2013.
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