National Debt and Budget :: Argumentative Economy Economics Papers

National Debt and BudgetFor twenty-six historic period in a row our nation has been under deficit spending, with precisely one fit cipher since 1961. The Nixon administration had the last balanced budget with a $3 billion surplus in the fiscal socio-economic class of 1969. With all these years of deficit spending the National Debt has grown to everyplace $4.9 billion. Our governing body needs to stop overspending and start reducing the amount on the debt. We ar putting the Debt on a generation that doesnt get to vote. We are spending money now that will they have to repay at higher taxes. This is wrong. (http//www2.csn.net/tshellen/speech.html) One of the best ways we net give our government the power to get and to keep the budget in balance is to ammend the Constitution. there are three basic ways to getting the budget balanced raise taxes, cutspending or a combination of both. There are dickens basic rules in applying this policy 1-eliminate all the waste, fraud, pork, and abuse, 2-we all have to partake in in the sacrifice of spending cuts. No special interest groups can be exempt. (http.texas.net/users/andyn/deficit/zdpview.html) It is estimated by the year 2000 the Debt will reach $456 billion. relative ahs enacted legislation along the general outlines of president Clintons economic plan, without the economic comment spending he proposed. As a result the projected debt is apprehend to be $251 billion.(http//www.texas.net/users/andyn/deficit/zdpview.html) Now the governmant has shut down all non-essential operate in an attempt to hard nose a budget by means of the senate and congress. This isnt the first time the govt has been shut down. It happened in Nov. 1981 when Reagan vetoed an emergency money bill, over again in Oct.