Fiscal Policy Paper

Satisfactory Essays
Unemployed individuals

The American budget deficit is a deterrent for employment and economic growth. According to the Bureau of Labor Statistics (2014), the unemployment rate is at 5.8% as of November 2014.Nonfarm payroll employment increased by 321,000 in November. Moreover, the unemployment rate was unmoved at 5.8 %. Gains of new jobs were widespread, which was led by growth in business services, retail, health care etc. The number of unemployed persons had little change at 9.1 million dollars. Over 2014 the unemployment rate and unemployed persons were down by 1.percentage points and 1.7 million respectively. Budget surplus can be an accommodating factor for unemployed persons if the extra funds are used, in the direction of job creation and training. Also, surplus would be valuable to address the current burden on the US economy. If the government uses the added funds from the surplus to create jobs, the unemployment rate would decrease. Even thou the unemployment rate have seen a decline, unemployed Americans still worry about their future.

University of Phoenix Students
The United States of American’s deficit has a harsh impact on the local economy. The unemployment rate is affecting students and graduates with huge mounting student loans. Many college students are having difficulty in repaying student loans. Moreover, since President Barack Obama took office in 2009, the amount of outstanding federal student loan debt owed to the government has skyrocketed, increasing by 463 percent. (CNSNews.com). It is also stated that the balance owed is $674,580,000,000.00 compared to $119,803,000,000.00, where it stood in January 2009, according to the (Financial Management Service’s) latest monthly treasury statement. According to Madison (2011), University of Phoenix offers programs for nontraditional students including online degrees; however, many of its students face high percentage of loan default. A government budget surplus would provide additional

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