Essay by:
Malek Saud AL-Faraj
Emporia State University

Economics Challenge
It is known that the current budget deficits and nation’s debts are worrisome, and it is necessary to take appropriate measures to prevent their negative effects. Therefore, we will examine the role of government in controlling the budget. A budget deficit is the amount by which total government spending is more than government income during a specified period;
the amount of money that the governments has to borrow in order to compensate for the deficit in tax revenues. The point of going through the budget and focusing on how to create savings is to make the government work better. The government should do something to help the people to find jobs easier to make to spending possible. For example, it would be useful if the government could contract with different countries to bring students to US universities. Nowadays, people tend to believe that using the fiscal policy cannot affect the economic activity, and they are supported in this view by the some professional macroeconomists.
A novel idea might be to encourage more American people to look for a job overseas. That will help the economy because they will send money home from other countries. By working abroad, they would gain a wider perspective on some issues and understand them better. However, we also have to be aware of the fact that the federal government is living far ahead of its means. It needs to get its own house in order; the national debt denotes the total amount of the outstanding debt obligations of a country's central government. Many people supposedly use the term somehow more broadly to refer to the total appreciation of all levels of government; sometimes including publicly owned industries as well as including district and local governments.
The term ‘national debt’ generally refers to the total of all the government budget deficits in the past years; it is reduced by the small amount of the total of all the government budget surpluses of past years. In the United States, the national debt is mostly made up of interest-bearing "IOU" instruments that are usually re-sellable on planned financial markets. These include U.S. bonds and U.S. Treasury notes. The federal spending continues to go up while the Congressional Budget Office (CBO) reported today that lost tax revenue will cost the government $160 billion. The challenge is how to transform the spending behavior of nearly everyone. Borrowing or drawing upon past tax reserves in this situation should mean we will look for long term change because economic will not change in one day. We need to come up with a solution that will prevent the country getting into this kind of trouble. Students are taught that the amount produced and employment worldwide is unbeatable by the forces of demand and supply, especially from interacting with overseas markets by using the comparative advantage. Governments cannot alter the ending of this process except to make it worse in most cases.
The government would have to reduce the expenses that do not fit the budget for the time being. The CBO assumes that increasing the federal spending will have no encouraging effect at all on real output; rather, it will have a negative effect, since it may cause a rise in interest rates and thus a fall in business investment spending. A high federal deficit results in an increased pressure on interest rates. In order to balance the budget, spending must be cut. However, cutting on the spending of schools is not a good solution because schools would not receive the proper funding to make the school a safe environment for children. People need to get proper health care and educational systems.




Re: Economics Challenge

Malek,

I agree that school funding cannot be reduced. However, it is apparent that our government is living beyond its means. You mentioned some very interesting solutions that I had yet to consider. I enjoyed reading your essay.

-Amber Vanderhofe


Re: Economics Challenge

Melek,

School funding must not be cut, though the government seems to believe that education is the place to cut. Don't they realize that education is what will set us free?

You have some nice perspectives. Nice work, and I enjoyed the essay!

-Ryan Wilson


Re: Economics Challenge

You are right that reduction in government spending should not include school fuding. Although I don't agree with all of your ideas such as working abroad, I have to congratulate you on your uniqe ideas and your willingness to express them. Way to be original! -DeZ


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