U.S. Budget Deficit - Good Or Bad?
?
"Spending financed not by current tax receipts, but by
borrowing or drawing upon past tax reserves." , Is it a good idea?
Why does the U.S. run a deficit? Since 1980 the deficit has grown
enormously. Some say its a bad thing, and predict impending
doom, others say it is a safe and stable necessity to maintain
a healthy economy. When the U.S. government came into existence
and for about a 150 years thereafter the government managed to keep
a balanced budget. The only times a budget deficit existed during
these first 150 years were in times of war or other catastrophic
events. The Government, for instance, generated deficits during the
War of 1812, the recession of 1837, ...
Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers
|
spending enough to make up the
difference. Also, the deep recession of the early 1980s reduced
revenues, raising the deficit and forcing the Government to spend much
more on paying interest for the national debt at a time when interest
rates were high. As a result, the national debt grew in size after
1980. It grew from $709 billion to $3.6 trillion in 1990, only one
decade later.
Increase of National Debt Since 1980 Month Amount
--------------------------------------------
12/31/1980 $930,210,000,000.00 *
12/31/1981 $1,028,729,000,000.00 *
12/31/1982 $1,197,073,000,000.00 *
12/31/1983 $1,410,702,000,000.00 *
12/31/1984 $1,662,966,000,000.00 * ...
Get instant access to over 50,000 essays.
Write better papers. Get better grades.
Already a member? Login
|
05/31/1996 $5,128,508,504,892.80
06/28/1996 $5,161,075,688,140.93
07/31/1996 $5,188,888,625,925.87
08/30/1996 $5,208,303,439,417.93
09/30/1996 $5,224,810,939,135.73
10/01/1996 $5,234,730,786,626.50
10/02/1996 $5,235,509,457,452.56
10/03/1996 $5,222,192,137,251.62
10/04/1996 $5,222,049,625,819.53 ...
Succeed in your coursework without stepping into a library.
Get access to a growing library of notes, book reports,
and research papers in 2 minutes or less.
|
CITE THIS PAGE:
U.S. Budget Deficit - Good Or Bad?. (2007, May 31). Retrieved November 22, 2024, from http://www.essayworld.com/essays/U-S-Budget-Deficit-Good-Bad/65703
"U.S. Budget Deficit - Good Or Bad?." Essayworld.com. Essayworld.com, 31 May. 2007. Web. 22 Nov. 2024. <http://www.essayworld.com/essays/U-S-Budget-Deficit-Good-Bad/65703>
"U.S. Budget Deficit - Good Or Bad?." Essayworld.com. May 31, 2007. Accessed November 22, 2024. http://www.essayworld.com/essays/U-S-Budget-Deficit-Good-Bad/65703.
"U.S. Budget Deficit - Good Or Bad?." Essayworld.com. May 31, 2007. Accessed November 22, 2024. http://www.essayworld.com/essays/U-S-Budget-Deficit-Good-Bad/65703.
|
Save
Report