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Econ Group Behavior

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A Job of Stability and Reform
Lauren Sullivan
Course: ECO203: Principles of Macroeconomics (BNK1530A)
Instructor: Nicholas Bergan
August 09, 2015

The United States budget deficit is an issue that modern day Americans either don’t care about or don’t know how to fix. There is always a plan and agenda to fix the massive debt that America has found itself in but it continues to rise. As the president of the United States; there has been this inheritance that all presidents propose to fix and reverse. However nothing has worked for the necessary long-term goals that all Americans are a part of in order to fix the National Deficit that threatens to cripple the greatest country in the world. According to ‘America’s Opportunity for All’ there are several important guiding principles which will allow The United States to not only pull itself out of but reverse the deficit. By decreasing the federal government, reforming entitlement programs, and regulating the national budget there is a hope that America can balance the budget and decrease its trillions of dollars’ worth of deficit.
In 1978 the Balance Growth and Full Employment Act passed to help both increase economic profitability and decrease national debt and the unemployment rate. Looking back the two acts are failures and a new ‘change’ for Americans plan of action on this important issue needs to happen sooner rather than later. Of course it is the job of our Congress and all layers of government to help stable the economy. Many different agendas have attempted to eliminate the ever-growing debt increase GDP. Some unintended events such as war and recession have also caused the debt to skyrocket or stimulus to help the economy. For the most part however as a united nation it is everyone’s job to continue to keep America great and help re-stimulate the economy and eliminate that detrimental debt.
In 2009 The American Recovery and Reinvestment act was passed in order to re-stimulate the economy. So far from a general standpoint the idea is great; more jobs and less debt. Everyone can remember the bank and auto bailout. Among others those stood out because they were multi-billion dollar corporations that needed government assistance. Some however saw and felt the devastating effect that the economy brought when it dipped from ‘December 2007 to June of 2009’ ( ).
It has always been a question in whether or not the federal government has helped or hurt the overall well-being of America. There has always been this rule within the United States to increase the country’s profit and attempt to retain more revenue and stability within the borders as well. Debates that circle around the national debt and credit ceiling are most important at this time because it circles around how America is going to retain its power in the long run.
If history has taught us anything it is to not repeat the large mistakes of other great powers; Rome, and Greece are incredible examples. Congress attempts to fix the economy and every time continues to inspire the nation with new slogans, marketing campaigns and bills. The truth is that if the way in which our own economy does not cease in the direction that it is heading than the whole country will fail. This nation was created on a certain set of rules that weren’t meant to be so deviated from. While the federal and state governments were made for the soul purpose to serve its people, the acts from 1978 have proven otherwise. The idea should not be circled around cutting spending in order to create jobs and stabilize the economy for the current workforce but to allow the younger generation to grow and develop into functional adults of the future that want to make America great for many years to come.

Cited Sources
Amacher, R., Pate, J., (2012). Principles of Macroeconomics. San Diego, California: Bridgepoint Education, Inc. Ashford Library. Web 05, 2015.

Backhouse, R. (2002). Interpreting macroeconomics. [electronic resource] : explorations in the history of macroeconomic thought. London ; New York : Routledge, 2002.

Islam, I., & Kucera, D. (2013). Beyond macroeconomic stability : structural transformation and inclusive development. Hampshire, England ; New York : Palgrave Macmillan, 2013.…...

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