Explain the US.Government.docx
- 1. Explain the U.S. government economic goals updated 2023 Analyzing U.S. Debt The U.S. government has a variety of economic goals that it attempts to promote, and one of those goals is controlling debt and deficits, a goal that has gained much more importance recently and one which has garnered much more public awareness. The United States has had a long history of debts and deficits, and there are a variety of sources that track this debt. Exercise 1 Go to the U.S. National and explore the data presented on the opening web page. What is the current federal debt at the time you viewed the clock? What is the federal debt per taxpayer? What is the U.S. trade deficit with China? Next, go to the website of U.S. federal debt timeline at What is the average debt in trillions of dollars for the presidencies beginning with President Reagan and ending with President Trump? Write a summary about what you think this data means to the U.S.’s ability to sustain its historical spending habits. Exercise 1a Recently, the huge amount of federal debt, influenced in large part by federal stimulus funding program such as the CARES Act and the American Rescue Plan Act (covered later in the course), and a long history of debt even without the effects of a pandemic, has brought federal debt to the forefront of political concerns of most Americans. Let’s explore what you think about federal debt. Is having such a large federal debt really a bad thing? If the U.S. has been in debt since the end of the Civil War, why do you think it has become such an important issue now? If you think the debt is worrisome, what do you think should be done
- 2. about it? Propose at least two solutions. Budget Deficit Simulation Because the concern over budget deficits has grown so much lately, it is relevant to introduce students to the idea of deficits and offer opportunities to make choices that might reduce or eliminate deficits and perhaps one day achieve a balanced budget. Exercise 2 Go to the Federal Budget Challenge web site provided by The SOUTIONS The U.S. government has a variety of economic goals, including maintaining a stable economy, creating jobs, promoting economic growth, and managing the national debt. The national debt, which is the total amount of money owed by the federal government to creditors, has been a topic of much debate and concern in recent years. One way to analyze the U.S. debt is to look at its historical trends and current levels. The U.S. debt has increased significantly over the years, reaching over $28 trillion in 2021. This increase in debt can be attributed to a variety of factors, including government spending on social programs, defense, and interest on the debt itself. Another way to analyze the U.S. debt is to consider its impact on the economy and on future generations. Some argue that a high level of debt can lead to inflation, reduced economic growth, and a burden on future generations who will be responsible for paying off the debt. Others argue that the benefits of government spending outweigh the costs of borrowing, and that the debt is manageable as long as interest rates remain low. When analyzing the U.S. debt, it is important to consider different perspectives and potential solutions. Some argue for increasing taxes or reducing spending in order to pay down the debt, while others suggest policies such as investing in infrastructure or promoting economic
- 3. growth as a means of managing the debt. Ultimately, any solution to the U.S. debt will require a combination of economic analysis, political will, and public support. Order an assignment through this link: https://intel-writers.com/ References 1 . Full Employment: This goal aims to achieve a low unemployment rate by creating an environment where most individuals who are willing and able to work can find suitable employment opportunities. 2 .Price Stability: The government strives to maintain stable and moderate inflation rates, ensuring that prices of goods and services do not experience excessive or erratic fluctuations, which can adversely affect consumers and businesses. 3 . Economic Growth: Promoting and sustaining economic growth is another significant goal. This involves fostering conditions that encourage productivity, innovation, investment, and expansion in various sectors of the economy.