Efforts to Reduce The Budget
Efforts to Reduce the Budget Deficit
Ashford University
Principles of Macroeconomics
ECO 203
Charles Fanning
July 1, 2013
Efforts to Reduce the Budget Deficit
For as long as people can remember, the United States has been in debt. Every presidents have tried to reduce our country debt. Some presidents have brought the debt down while others have watch it rise. Many people here in America are starting to wonder whether or not our country will ever be economically stable, or continued to be further in debt. This essay is about the efforts that previous Congress member and presidents have done to reduce the budget deficit.
Since the United States has become the United States we have been in debt. According to our textbooks a deficit is defined as “the amount by which the federal government's expenditures exceed its revenues in a given year (the fiscal year, which runs from October 1 to September 30).”(Amacher & Pate, 2012, Chapter 10.1) A concern that American face today is that the United Sates is in debt. Since 1985 Congress and the president have been trying to fix the national debt. According to the text a national debt is “is the cumulative total of all past budget deficits minus all past surpluses. It is the amount owed to lenders by the federal government.”(Amacher & Pate, 2012, Chapter 10.1) Between 1985 and today Congress and the president have tried many different ways to reduce the budget deficit. In order to create a budget deal it takes time and work. Some of the factors involved to get a budget deal is that the President first has to propose a budget plan to Congress. In order for the President to propose a plan he must look at the federal deficit. Once he take a look at the federal deficit then he must sit down and talk with Congress. Once the President has talk with Congress then Congress will negotiate or compromise a plan that they think is good for the deficit and talk with the President. Once the President and
Ashford University
Principles of Macroeconomics
ECO 203
Charles Fanning
July 1, 2013
Efforts to Reduce the Budget Deficit
For as long as people can remember, the United States has been in debt. Every presidents have tried to reduce our country debt. Some presidents have brought the debt down while others have watch it rise. Many people here in America are starting to wonder whether or not our country will ever be economically stable, or continued to be further in debt. This essay is about the efforts that previous Congress member and presidents have done to reduce the budget deficit.
Since the United States has become the United States we have been in debt. According to our textbooks a deficit is defined as “the amount by which the federal government's expenditures exceed its revenues in a given year (the fiscal year, which runs from October 1 to September 30).”(Amacher & Pate, 2012, Chapter 10.1) A concern that American face today is that the United Sates is in debt. Since 1985 Congress and the president have been trying to fix the national debt. According to the text a national debt is “is the cumulative total of all past budget deficits minus all past surpluses. It is the amount owed to lenders by the federal government.”(Amacher & Pate, 2012, Chapter 10.1) Between 1985 and today Congress and the president have tried many different ways to reduce the budget deficit. In order to create a budget deal it takes time and work. Some of the factors involved to get a budget deal is that the President first has to propose a budget plan to Congress. In order for the President to propose a plan he must look at the federal deficit. Once he take a look at the federal deficit then he must sit down and talk with Congress. Once the President has talk with Congress then Congress will negotiate or compromise a plan that they think is good for the deficit and talk with the President. Once the President and